I see you are from Pittsburgh so i figure you have heard of Dick's Sporting Goods. They have some excellent packages. An olympic style bar and 300lbs of weight for around $100. Also a couple very nice benches. One has leg attachment, curl attachemend and lat attachemnt that all use free weights, the bench runs about $200 or so i think.

I was torn between getting the bench and weights or joining a gym, unfortunately my basement didnt have enough room to accomodate the bench so i joined the gym.