I got my "Kit" WhatNot for about $50 (I had a $10 giftcard/special for spending a certain amount during Christmas sales), and I think he's pretty sweet. That's him in my Avatar, by the way. I havn't seen the FAO versions in person, so I can't really comment on the visual comparison between them, but the fleece certainly looks nicer. Their fingers really do have the wire in them, so like the FAO they can be posed. Unless you want something like the WhatNot suit, it's really pretty easy to get clothes for $10 or less.
I picked the TRU Kit because it's a little easier on the wallet, and the entire puppet is made with a Velcro reactive fabric, so it's easy to make little props to stick onto the hands or things like glasses (other than the included ones) to wear, or even eyebrows. It doesn't look quite as nice as the Fleece, but it doesn't look too bad either.
Another plus is that for those of you who are more crafty, you could also build your own parts, and stick them on the puppet. I've noticed that almost all Muppets and Whatnots that are orange have either brown, yellow, or black hair so I went to Joanns and picked up some fur and made hair for him.
The biggest issue I have with it, is the Mouth. It's that "taco shell" shaped piece of plastic, and it makes it really difficult to move, and makes any sort of emotion pretty impossible. But i've heard that the FAO ones are built the same way, which is majorly disappointing.