I used a Hi-Point for years. It offered not only chest protection, but spine, shoulder and bicep portection . Last year I retired it and got an MSR. Still had the spine protection, but lost the shoulder and bicep part.
It's really a personal matter - do you want protection or appearence? Some wear them over the jersey and others under. For real protection you need a custom fit and $100 won't touch it. I paid about $150 for my current one and it only protects from minor bumps.