I sorta got around it by buying my vanilla from stores that deal in remainders (Home Goods, mostly) where everything is on a steep discount. Though this plan does rely on being able to stock up when the stuff is available (so you need to be able to lay down significant amounts of money when the supply is available.)
I currently have a fairly large supply of vanilla left from the last time I did this, so I'm good for the moment.
This method also allows one to taste around different sources of vanilla and figure out which kind is best for your needs. Most of what I have is standard Bourbon Madagascar, but I also have some from places like Tahiti and Mexico (note that you have to get from someone you REALLY trust, as a lot of cheap Mexican Vanilla is adulterated with Tonka beans/courmarin, which is carcinogenic.) I USED to have some from New Guinea, Indonesia and Uganda but I ran out (Ugandan was my favorite but due to unrest, I don't think they export Vanilla anymore.)
When I get desperate enough I supposed I will do the bean in the vodka thing (though since the higher the proof the more you extract, I'll probably use my 180 proof stuff.)