> motor controllers with significant power handling cost too much, although this is improving
There are more than a few h-bridge ICs out there that can easily control many amps of current; Infineon's BTN89xxx line is fairly popular, but there are others. Many can be found as "breakout boards" on Ebay and other places. They'll usually control 12-24vdc @ 40A and more; they are MOSFET devices (n-channel, integrated high-side pumps, etc). These boards are fairly cheap.
Now, an h-bridge of course doesn't make a motor controller, but it is the most difficult piece of the puzzle, and perhaps the most expensive part (in terms of electronics hardware and developing one - because frying MOSFETs or IGBTs in the process of development can add up quickly). The rest is monitoring and code (basically using a microcontroller to interpret control signals and feedback signals from current, encoders, etc - implement PID as needed for speed or other control, overcurrent monitoring, etc).
Of course, none of this will match the capabilities of a Roboteq or Vantec motor controller - but you won't be spending several hundred dollars, either. These lower end devices and designs (and there are other companies that make lower-end controllers, like Dimension Engineering and others) are more than enough though to control electric wheelchair motors (but if you want proven "bulletproof" controllers, spend the money).
And if you are really cheap or want to experiment? Pick up some cheap logic-level high-amperage N-channel mosfets off ebay (or other places), parallel them together for more current handling (of course, there may be issues with capacitance load), then build a simple "h-bridge" from 40A Bosch relays scavenged from a pick-ur-part (most of those places give 'em away), and put the mosfet pack on the low-side connected to ground. A couple more mosfets to control the relay switching, and you have a (somewhat) cheap (though large) 40A PWM-capable hybrid h-bridge (just don't switch the relays while PWM'ing!).
I guess all of this is to say that there are plenty of inexpensive options out there that aren't "old-school" L293 or L298 solutions (though honestly, for their application, such h-bridge controllers still work well, provided you pair them properly - that is, larger motors running at 12 volts or a tad more off of gel-cell or similar batteries, when efficiency isn't as great a deal).