The "generics" that you speak of could very well be 1mg of finasteride, then again they might not be. The problem is... you just don't know what you're getting. Many pharmacies in India, Pakistan, etc. have been busted for selling counterfeits. That is where most of these generics come from. I just use Proscar and cut it up into four quarters. This way it only costs me about $20 per month as opposed to $50-$60 for Propecia.
The stuff I get is called finpecia and it comes in plastic foil packs of 10. It's made by Cipla and after doing some research they say their plants are certified by the FDA etc. I've been on it for 8 months and it seems to be working so I'll continue to use it. Cutting the pills seems like a pain to me.