my current setup is as simple as it gets (about to get simpler).
Seed (hope it's female!) (free)
Cheap plastic pot ($5)
CFLs (Soon to be a cheap HPS) ($15-25ish for the CFLs)
1 into 2 light socket adapter ($3 each, using 3 of them)
Light socket with cable ($10ish)
Miracle Grow soil ($10ish)
Light Timer ($7)
Digital Thermometer (free)
Light-tight spot to grow
Have a bunch of small buds, getting bigger every day