You can count on the Honda.  The cheaper ones work just as well in shorter cycles.  They will not run all day, every day like a Honda or pro-quality one will, but you might not need them to.  A Harbor Freight generator might run a 5-6 months when being used every day, instead of a couple of years.  For a week or two every few years, they are probably fine.
You can rotate the heaters and be Ok.  I have had my reef get down to 70 and be fine in the end... I did not do this on purpose, which is why I bought a larger generator so that I did not have to rotate the heaters anymore.
We have not had a power outage more than 1 minute since I moved to Colorado.  Unfortunately all of my experience was in the midwest where ice storms and tornados would take us out for weeks.  We were out for almost a month once in a relatively populated area.  You almost cry a tear of joy when you see a line crew from Louisiana driving into your neighborhood after three weeks of hauling gasoline and hoping that your generator does not throw a rod.