If you have time and effort to expend, there are a number of options for finding inexpensive but decent-to-better quality wool trousers.
Nordstrom Rack is certainly hit-or-miss, but I've had some success at the one here in San Francisco. Back in the spring of this year I found 2 pair of wool trousers by Riveria on sale for something like $50 each. I also found a pair by Berle for about the same price if not slightly less. All three are pleated and not slim-fit, the Berle being fuller than the Riviera.
Pictures:Riviera 1Riviera 2Berle
I like the Riveria pants more than the Berle and will definitely look for more from Riviera on future trips to the Rack.
I also have a number of wool trousers from Corbin at Sierra Trading Post
. Timing my purchase to their sales and stacking coupons, I've gotten them as low as $40/pair. They usually carry both flat-front and pleated. I've found the pleated to be vanity sized by about 2", meaning I buy their Corbins 2" smaller than I normally wear. With STP's great return policy, you can order 4 pairs of trousers, 2 different styles in 2 different sizes, keep the one(s) you like and return the rest. One word of caution, I have found that one model shown on the STP site can result in slightly different models of pants. For example, I ordered a group of 3 pants of ostensibly the same model but in different colors and when they arrived, they were slightly different models from the manufacturer. Sure they were the wool, pleated and the correct color, but the inner tags indicated different models and the cuts were ever-so-slightly different. Ultimately they all fit, so this minor variation wasn't a problem for me. YMMV.
You might also get really lucky and score some very nice trousers at steep discount from Ralph Lauren. In the post-new-year sale of 2008 I found a pair of blarcoal wool flannel RLBL made-in-Italy pants marked down to $98. I'll be keeping my eye out for similar sales this year.