Wow, old thread, I went with the $8 5gal igloo and the ball valve.
The possibility exists that there is a 10gal-ish cooler in the near future for $0, but it would be of the rectangular type. Even if it isn't 10gal, I could mash in it at the same time as the igloo, dump it in to the igloo after the inital sparge and go from there (for larger beers).
Thanks for all the replies guys!
Marbles baby, marbles.