http://www.amazon.com/Valor-Athletics-Inc-BD-Power/dp/B002EJC990/ref=sr_...

I can vouch for this one. Cheap, but effective. My only complaint is the squat cage leaves less room front-back than I would like. However, I have yet to hit any of the cage while squatting. Unless you're very careless, this cage is wonderful! We have racked well over 400lbs on its pins, no problems.

The high-low pulley system works; its not indestructible and will require some maintenance. There will be some friction on the vertical post, but its just adding some grease once in awhile, no big deal. Re: smith machine vs cages... load up the bar with barely any weight and allow yourself to do some controlled failures. It is important to learn that you're safe so you can squat harder. Once you're comfortable with a cage you'll never go back to smiths. I have failed and broken my hand in a squat rack, cage >>> rack IMO.

Overall you would need:
This cage ($519.00 w/ free shipping)
Plates 4x45, 2x35, 2x25, 2x10 + Olympic Bar ($300-500 used)
Dumbbells 2x25, 2x50, 2x75, 2x90 2x120 ($500-600 used)

That is pretty much our home gym. Total = $1300-1600.
Avg gym cost $25/month one person (we have 5) Pays for itself in 1 year, 5 years if by yourself.

But let me tell ya, working out whenever the hell you want = priceless. Hope I helped, friend/PM me if you got any questions.

I truly believe that's the best one to have !