Interesting question.
A lot depends on just how adventerous you all are.
Look, most of us here on DR1 and the other DR related sites, feel that Punta Cana is "way out there" .....It is, of course, a gorgeous place. the down side is that it is fairly isolated from just about everything, and considering that like 15 years ago there was nobody (real Dominicans) living out there, it is difficult to get a read on the people.
Therefore. I can propose two options. Both a lot cheaper then Punta Cana.
1) Go to a small, non-all inclusive, place in either Sosúa or Puerto Plata, like Tropix for instance, and take a bunch of day trips to different places. Do the tourist thing, sure--Ocean World, Cable Car, Ambar Museum, the old fort San Felipe, and some of the other things. But take a bus to Santiago and see the Centro Leon. That would cost you under $30 without food and maybe $50 with food.
2) Go the all inclusive route in Puerto Plata's Playa Dorada. Book a couple of day trips and see if you like them.
do you golf? important question since it opens all kinds of new adventures...
HB