the only issue i see with the float switch idea, i have the outflow thru 4 drip emitters, i don't see how i would connect the outflow of the float switch to the drip emitters can you run 1/4" tubing on the outflow? i think the direct closing solenoid valve is better piece of mind now that i think about it.
regarding cost, total cost to date is less than $120 although thats using a mag7 pump i already had lying around, $60 for chlorimine filter, $16 for drip emitters, tubing, sediment filter, $45 for vertical float switch. i don't think the system is that complicated but fairly straightforward ... but what do i know