Charles, Sennheiser is a great quality brand, but the G3 is at the lower end of the scale in the big scheme of things - it's the best of the entry level options. At this price point your only options are this one or the Sony UWP-V1.
If you really wanna go cheap you can check out some of the VHF (nowhere near as good as the UHF systems) systems from Azden and Audio-Technica but these are not very good. I have a cheap Azden in the kit as a back up for when I need to run two wireless mics at once, but would not recommend it as a primary system. It only has a range of a few meters, and even putting the transmitter in a pocket is enough to introduce interference. These systems are ok for sit down interviews, but anything where the person is moving around will require something like the Sennheiser or Sony.