let me clarify on the lighting - the $150 was for a lighting kit, which included two daylight bulbs (the bulbs are $15 each), stands, and reflectors. you can buy the bulbs alone and use them in a desktop lamp at a pinch.
these are the bulbs:
http://store.yahoo.com/greenbatterie...omfluorbu.html
this is the kit:
http://store.yahoo.com/greenbatterie...tabstudtw.html
my very first product photography gig paid for the entire kit.
here are some examples and what i used for lighting for each of them (username and password are both 'mm' to view pics):
desklamp and inova flashlight for 2nd light source
outdoor lighting
daylight balanced studio light kit
daylight from a window, a desklamp and a flashlight
hope that helps give you some ideas.
cheers,
MM