I'm not even going to try and defend this one as affordable, but I will say that it has to be one of the best looking cribs I have ever seen. In fact pretty much everything from Australian based Ubabub makes me swoon.
Pod Cot crib $1700 Bed conversion $180
The Nifty Timber crib shown above is equally attractive and slightly more affordable at $1075. Of course there is still the problem that there are no US distributers so shipping stateside is going to be a huge pain down under.