For what it's worth, I recently geared up (worked. Have had some training over the years, and done quite a bit of studying on the matter, but not much hands on until now. Fortunately I have had a lot of good advice from a couple veteran climbers. With anything I get into, I always like to get the best I can afford...actually, given the prospect of making my wife a widow and the kids orphans, this is especially true. I know you don't want to spend this much, but here's what I got:
1. hard hat $95
2. Pinnacle saddle $265
3. flipline w/ microcender $150
4. 150' blue streak climbing line $130
5. snap & carabiner $30
6. breakaway saw lanyard $20
7. throwline and bag $25
So for $700 I was outfitted with the basics. I personally wouldn't want to do too much with gear that ran me a couple hundred. I'm gonna have to spend a little more, as I want to try the split tail/micropulley setup using two biners instead of one snap. I was watching a buddy this morning run this setup; seemed like he could move around a lot easier.
Other goodies to come: split tail rope, friction saver, climbers companion, micropulley and two more carabiners, sling/block