I'm with Beav on this one: I don't spend much on pens because I lose them so often. I just use white Bics with blue ink, keep the black ink away from me. As for pencils, I use Staples brand mechanicals. Cheap, don't care if I lose them.
I am addicted to the giveaway pens from the nearby sushi joint, though. It's a clicky pen with a really nice tip that glides over paper a lot easier than the Bics do, but there isn't much ink left in either of them, so I'll probably just replace the tips in them soon, and not like them as much. I may just like the feel of the pens themselves, though, as they are really light.
I've officially said more about my writing utensils than I ever thought I would. Kill me.