Only spend what you are comfortable spending. Don't decide on the ring based on price - if you fall in love with a ring that is $800 then your DP shouldn't say no because it's not expensive. On the other hand, if you find a ring that is over $1000 that you really love and your DP is happy to pay for it then you should get it.
i agree.

my ring was my mums she and my dad are divorced and i just loved it so much she said i could have it. i had it valied for insurance its worth about $2500 if we bought a ring we prob would have spent about $1500 my wedding band was $700.
my ring is not a huge dimond but good quality. make sure you get quality over size it will make it better when you pass it on to your children.
i only have boys so i hape to have a gran daughter some day so i can give it to her....