I recently bought an 2004 XTerra and want to get some straps that I can use for carrying things on the roof. I'm thinking things like a canoe and some lumber. Does anyone have recommendations on what type/brand of straps to get that will be durable and versatile while not costing an arm and a leg?

Hmmm.

You may buy a set of 4 regular ratchet straps for $20-25 in any general store (Wal-mart or so). I've a set for a few years now, they work great.

Don't forget to stop after first few miles of driving to re-tighten the straps.

Unless it's a real POS canoe, get some decent cam buckle straps for it with buckle protectors.

Procedure and example straps here:
http://www.redrockstore.com/canoetie/index.htm

I'm not a big fan of ratchet straps. They tend to come loose and fall off.

I have couple of those too. Work well, but you cannot get as much tension as with ratchets. They are all right for kayaks, but don't use it for lumber - they will not hold it.

As for "ratchets come loose" - it did not happen to me yet. Just ignore the pictures on the box with ratchet straps - they are wrong anyway. Each hook should go into the loop of the other hook. Or buy something like that . http://www.alliancemotorsports.com/i/Towing%20Trailer/tn_Ratchet_Strap_Blue_GAP500C8-3.jpg

With any type of strap, you have to re-tighten them after few miles. As the 2nd law of thermodynamics says : "any strap will eventually move to take the shortest path possible.". That's how you may loose the ratchet strap.