I use 3/32nd and 110BCD. The big plus is right away I have plenty of chainrings, and they are pretty cheap anyway.
Im not sure I would ever borrow a chainring/cog off anyone, any more than I would borrow their wheelset. Actually, I used WhiteIND hubs anyway so its not like I COULD borrow a cog off most.
I like the KMC chains, I use them on my road and track bikes (another plus of 3/32nd is I always have a spare). Can't remember the model, but I agree on the ~$30 chain, its not junk and the expensive ones are not much nicer.
Chains are a wear item, they stretch (the pins give) and wear over time, plan on a new one every season, maybe less if you dont ride much.
Also, first thing you do with a chain, is clean the crap off it came with and put fresh lube on. Always.