In my opinion, it depends on the number of people and how evenly the skills are distributed. I play with a lot of "new" people, giving people back their chips, or it being the right price for them to not feel bad about rebuying, usually makes it far more fun. I'm usually a 25 or 35 dollar game, not anything too big. However, when I play with some of my better friends, we enjoy a tournament in a less forgiving environment.