If you want to look at individual bacteria I think the 400X $150 model is still not good enough (unfortunately). I think it will be good enough to seelarge single celled organisms like paramecium and should be fine for rotifers and nematodes. For bacteria I think you will need closer to a 1000X using an oil immersion lens which gets pretty steep in cost. I think our school bought cheapo ones at about $800 a pop.
Remember also that large magnification isn’t necessarily what you want. You want high resolving power which is in the quality of the optics. A $400 1000X microscope is crap compared to a $1000 400X microscope.
I agree with sigene… x400 is not really going to be enought to resolve bacteria as anything other that little dots.
If you want to see shapes (rods, flagellae etc) then x1000 oil immersion sounds like your best bet.
Sadly, they don’t come cheap. Colleges/universities usually sell their old ones when they get new ones, so you might be able to get hold of one cheaply that way.