Need help from the health/workout gurus - heart rate monitor

[Trouthunter]

Hey guys. I really need to get in better aerobic condition, not to mention shaving off a few pounds. By a few, I mean a lot. I've got a heart rate monitor built into the handles of my treadmill, but it doesn't work worth a damn and I don't want to spend my entire workout gripping the handles anyway. Plus, there are plenty of other ways to get a decent aerobic workout than running on the treadmill. With Spring and Summer coming up, I'd like to try this "outside" place that I've heard so much talk about.

Any suggestions for a heart rate monitor? I don't want to spend too much cash, but I want something with decent quality and accuracy.