Your on the right track. However, $200.00 will have to be stretched to do the amount of area you are suggesting. Lime, seed and fertilizer cost.
The opinion on seed products will vary. The best thing to do is to first do soil samples on each areas to be planted. This will give the ph values for each and will define the soil types. Until you do the samples your in the failure mode, no matter which product you decide to plant. The type of soil will determine which type of seed/product will work for you. There is no magic seed/bean. After we find out your soil make up and ph value then you may proceed with fallowing the ground/ limeing and so on... At least half of you plots, in a forage like alfalfa or clover, is desireable. It is best to have a buffet of different products then choose the prodcuct that seems to have the best results. If you have an extremely difficult soil, it may take a few years to lime and plant buckwheat and rye grasses to add some humus to the area so a quality crop may expect a lesser mortality rate. Just don't be in a hurry to fail... Because one type of product has not worked for someone it dosen't mean it will not work for you.
Contact the different seed sales folks and start reading the info. This board, and others like it, will provide a great wealth of info... Use it.