Thinking About Carpet

We are still waiting to hear back about our counter-offer on the foreclosure house. I have already started thinking about the renovations, though. This is because I am currently without a garden to occupy my obsession.

The first thing we have to do is carpet. We are going to choose a carpet based mostly on cost. We don't want to spend a fortune... but I also don't want to look down at the carpet 4 years from now and regret choosing such a cheap carpet, because it didn't hold up.

Here is what I've learned about carpet:

Cut Carpet
Plush: carpet for softies, and for looking pretty but not for using.
Textured Plush: carpet for medium traffic
Frieze: ugly carpet
Multi: your basic apartment/basement carpetLoop Carpet
Level: good for wear
Berber: good for wear, great for spending a lot of money on carpet

Honestly, I hate carpet. Who was the first person to think of making a floor fuzzy? But, if we buy the foreclosure house, the whole upstairs is carpeted (and replacing all of that carpet with hardwood just doesn't really make sense). I suppose bedrooms are one place where carpet can work.

What do you think of carpet? Ok in the public spaces, or just for bedrooms? Any friendly advice about which carpet wears best?