Portal and Asherman - yes I find canvas is not too dear at all if you make your own - this also means you work to the size and shape YOU want rather than being dictated to. (which of course you can also do with your masonite)
Some ready made canvasses in art shops are horrible as well with their nails down the side. Like Portal i staple on the back with neat hospital corners.
well to be fair - my husband and father make the wooden frame, which i then cover. Woodworking isn't one of my skills, though we did have to make our own canvasses at uni.
Made like this there are no framing costs and they aren't as heavy as masonite panels - a very large painting isn't too heavy to carry
Canvas just has a nice feel as well