I read above (and @Norton echoed) that Legacy is not in the budget. I can relate! Granted, there are some traditional/semi-/non-/not-to-scale items in Legacy, but I equate Legacy with 1:48 scale operations and I'm too heavily invested in traditional to make the change.
If you want conventional, it's hard to argue against the two-motor Williams/WBB NW-2s. I own 2 of them and they're great in conventional mode. That said, both have been upgraded to TMCC with ERR components, but that's not a commentary on their capabilities in conventional mode, just my way of getting liveries I wanted in TMCC that weren't made by Lionel. Still, with ERR components, that's a $300+ investment per loco.
If I wasn't particular about a roadname and wanted something more than conventional, for the price, I stand by my recommendation above for an LC+ NW-2, but that's not based on personal experience, just what I'd do I had had $200 to spare for an additional switcher.