As long as your bed is neatly made, with coordinated duvet, dust ruffle, pillows... and the room is relatively neat... and the sheets are CLEAN, it doesn't much matter. Personally, I can barely sleep on less that 300TC anymore. And they're not much more expensive than the cheap arse percale blends from Target, if you put some energy into shopping.
Try your local Tuesday Morning, if you have one or
SmartBargains.com or
Overstock.com
The color depends on your decor, of course, but if your room is otherwise "cool" colors, then you could do something like:

or

or

or

You could always do bright white, but it reminds me too much of Westin's Heavenly Bed. Especially if
all the bedding is white.
If on the other hand, your decor leans toward the warm, try:

or

or

or

That should give you some ideas of what's out there. I don't think any of these cost more than $79 per set. The cheapest is $30-40ish.
Bottom line is, if you have a "grown-up" room, with real furniture, wall decor, window coverings, and matching bedding, you'll do just fine. I mean, your room will look just fine.
