If you want the reach of a 70-300, I strongly recommend the Canon 70-300 with Image Stabilization. It's a great lens that gets good reviews from serious amateur photographers. However, it will cost in the $500 range.
I use the Tamron 28-75 f/2.8 as my walk-around lens. It is sharp, takes great shots in low-light settings, and covers a reasonbly good range for a very reasonable price. Occasionally, i want something a little bit wider, so I step back a little. No big deal.
For a digital - normal range is roughly 18-70, which is covered in a variety of ways. The XT kits lens cover 18-55, so if you have that, I'd look at adding in other areas, first. The 17-85 with Imagine Stabilization from Canon is also very popular, but it is also pricey.
There are always trade-offs between price and quality, but the only wrong lens is the one that doesn't do what you want it do! In this case, I think the question is how much reach do you want and do you ahve other lenses to cover the wider angle. However, it won't be a good walk-around lens.
Dirk