I do not have experience with the HD202s, but I did own a pair of the HD203s. They were surprisingly sturdy for being all-plastic and sounded pretty nice to my ears.
The cons would be that the silver finish on the band started coming off in places after a while of use, the cord was extremely long, they were not terribly comfortable to wear for long periods of time, and that they just up and died one day without prior warning.
It's funny that this should come up - I got a new pair of PortaPros for $18 at my local Kmart yesterday, thanks to a combination of a store closing sale and a clearance price. I'm pleasantly surprised by them so far, but not completely convinced. Seems like the high end is lacking a bit on them.
Incidentally, my current favorite pair of "cans" also came from the Kmart clearance section for $15.00. That pair would be the Nakamichi 780Ms. These things are impressive for their price, which is still $20 or so online. Very nice bass in particular, a detachable cord, and they are comfortable to wear for however long. My only quibble is that the band could be a bit longer - or else my head is just larger than normal!
Gotta give the little guys some credit once in a while. The 780Ms are definitely worth trying out for the price.