You might find what you are looking for here:

http://www.cameratripodsupport.com/shop/gilux

The entire package (with a decent head) won't be $50, But it won't be $500 either.

Your wish list is missing three things

What camera(s)/lens(es) you are going to be using this with, what your subject material will be, and how tall you are - more specifically what is the distance between the floor and your eye level.

Stability IS the only reason why you buy a tripod, and to hold a 20mm lens stable is a lot easier than holding a 900mm lens stable. The 1 lb superzoom point and shoot needs the same level of stability as a full frame NIkkor D5 with an 800 mm lens. If you don' understand why, I suggest you turn to Really Right Stuff's 3 page tripod selection guide, and Gitzo's downloadable catalog - which offer excellent advice. Stop reading customer reviews from people who just upgraded to a $75 tripod from a $35 tripod and think it's the best thing since sliced bread, and have never experienced what a good tripod does that the cheap ones can't. From your perspective it may look like I am trying to make you spend your money on overkill, but in reality I am giving you good advice and trying to save you money in the long run, along with keeping some free space in your closet that will otherwise be taken up with all sorts of junk tripods that are totally useless and nobody wants. Your money, your choice. Make the right choice and go for the stability. Look at what the big boys offer and try and find something with similar specs in a cheaper model. A stable $50 tripod is a fantasy, unless it falls off the back of a truck or is 40 yrs old, made of metal and weighs 20 lbs. Lastly, a tripod that needs a center column fully extended to get to 70" is never ever going to be stable.

I do have a 200 lb Cambo Camera stand that will do that, if you want. In fact it goes to 9 Ft. You can have it for $1000.

Boris, the old Studex tripods are solid - I used one for years with a 4x5 and later an 8x10 view camera, but never with a long telephoto lens. The longest was a Nikkor-T ED 600mm f9 lens - which on 8x10 was roughly equivalent to a 90mm portrait lens on a full frame DSLR.

This is a good read on what matters (stability) and what doesn't matter (load capacity) - when selecting a tripod.

http://www.reallyrightstuff.com/Guides-Support-for-Tripods

your long lens is 200mm on a crop sensor, so you should be looking at tripods that will support a 300mm lens (equivalent field of view). Usually that means a tripod with a large platform (55mm or larger), and at least 28mm diameter top tube.

I picked this up last summer for travel and backpacking - and I have used it with my 300mm F4 and macro with great results.

http://www.feisol.com/0823tripodsdetails-5.html

If you get it without the anti-rotation legs, 3 leg sections - it's only $300 plus shipping from China. Or you get get the one with the anti rotation legs from B&H or Adorama and pay an extra $90.

I have a great deal of respect for this company's products - I bought my "heavy duty" tripod for use with a 600mm F4 with a crop camera (D200 then a D300) from them back in 2007 - $500 got me a tripod that was more stable than a Gitzo Series 3 which cost me $525. Sold the Gitzo, got the CT3472, and I still continue to use it with only some minor cosmetic marking, from 10 yrs of hard use. No hesitation recommending their stuff. They indeed make the lightest, strongest tripods on the market. The CT3342 and CT3442 are load rated for 55 lbs, and they weigh 2.25 and 3.31 lbs respectively, the CT3472 is load rated at 66 lbs and weighs 4 lbs. Can't say enough good things about both of them.