Back in the day, I use to subscribe to the idea that I "needed" an expensive camera case.
It's a great idea, however I didn't want to spend more than $200 on a "case".
Besides my cheap-ness, I was also scared that my camera could be stolen.
When a thief sees an expensive camera case, the obvious deduction is that there must be an expensive camera inside.
I just cannot afford to let my Panasonic HVX-200 be stolen!
It is what puts food on my family's table, and the occasional beer in my belly.
That being said, when I bought my HVX, I decided to make a case with the following:

• Traveling case (I got mine at wal-mart for $10)
• Foam (I got it from a delivery package)
• Soft/thick cloth (also from wal-mart)

The cool thing is that it doesn't look like you're carrying anything important and it doesn't look bad either.
I can go freelancing, still look professional AND nobody will want to steal a regular-looking bag.

Note: I put one foam on the bottom, and two foams on the sides.