I have a 65 gallon with playsand and I like it a lot.
It cost me less than $5.00 per bag, but I had to wash the living heck out of it like 2 or 3 hours per bag plus the associated water.
It looks very natural, it holds the plants well, and the fish like to dig in it, but you have to add root tabs for your plants because it's pretty much void of nutrition for the plants.
I have a29 gallon with black Petco brand sand.
I did have to wash it quite a bit, but nowhere near the playsand.
It's coarser than the playsand, it doesn't seem to grab the plant roots as well, and it also needs root tabs.
When it's clean it looks great, but everything shows up on it.
Again, the fish like to dig in it and it adds to the atmosphere of a darker quiet tributary.
All in all I think that I prefer the playsand.
There's more work up front, but I feel that it looks nicer and that it's got less maintenance in the long run.