Are you looking new or used? If used, check out a Losi 810. Stupid fast buggies and very, very durable. A slew of 'hop-ups' available (it shares 95% same parts as the SCTE). You cannot find them new anymore, but imagine you can find a good one for like$200-250. You can even get a new stock engine (Losi 3.4) for under $100. I have three of those engines and that buggy is possibly our fastest (so no need to throw an LRP or anything in it). And it can jump small, medium, or as high as you want it to. ;-) I imagine if you bought one for $200 and put another $100 in rebuilding it...it would give you exactly what you are looking for. PM me if you are interested in and I'll hook you up with where to buy one, what to look for, etc.
Don't get me wrong, I love Hyper 7, Losi 8ight 2.0 and Mugen buggies (I have each of those as well)...Mugen might be a little much for what you are wanting...after all is said and done you're at about $1,000 for a good setup. Losi 8ight 2.0 would probably put you over your budget as well. The Hyper 7 is a straight-up thug, but to be fast it requires new engine and reduction in at least 3-5 ounces. If you are looking new, that would be my suggestion.
Funny...as your description of what you were looking for got me thinking about the Jato...then saw you had one. While I don''t have a Jato, I imagine each of the buggies suggested thus far is more durable (stock v stock) so assume durability is key?
Just remember if your budget is for the lower end of the scale, you will break parts like crazy and ultimately spend a lot replacing them vs. spending a little more and having a more durable rig.
This is truth here. I realize you already understand it, but for those reading...and pondering, the durability jump in vehicles is utterly amazing.