From Furniture Today
"Bonded technology — a leather-look polyurethane face on a fabric core made up of leather pieces joined with adhesive — is regarded by some as an affordable alternative to genuine hides. While it has gained some converts, rawhide diehards continue to view it as an imposter."
"Ashley's bonded brand UltraBlend, containing 17% leather, is still selling, but said President Kerry Lebensburger, “We are noticing more suppliers switching to leather match as a way to combat higher leather costs and the rush of promotions on blended products. What has been a staple of motion furniture may be coming back to stationary.”
I recently purchased a leather loveseat, sofa and chair and had a darned difficult time deciphering the various qualities of leather, bycast leather (leather splits coated with polyurethane), and bonded leather. In Australia and Great Britain it is illegal to call bycast leather "leather" as it is allowed here. And bycast leather is a step up in terms of leather content than Bonded leather.
I have 8 Berkline 090s that are leather match and I think they are great. I bought them at 2 different times on Craigslist and paid just $150 per chair and they are in great condition. I was even able to find 2 separate matching sets of 4 in a deep burgundy leather match. If you are looking to save money, I think Craigslist is the way to go, you just have to be patient.
I think if Durahide or some kind of vinyl product is suitable for you, then bonded leather would be fine. However, I wouldn't make the mistake of thinking you are getting leather chairs. From my reading, the durability of bonded leather could be a concern and they haven't been around long to know for sure.
My opinion, for what its worth. You get what you pay for.