Ok, here I am - the "King of Cheap"!!
Here are a few bargains that many people don't know about:
dbx 242 parametric eq. - This isn't even in their catalog, bit you can usually pick them up on ebay for cheap. Designed by Bob Orban, this is a killer 5 band unit.
Ashley SC or CL-50 compressors - A little noisy, but still great.
Oktava MC0-01 with the 33 mm Lomo head - The sound room sells this wonderful Russian combo, and it's great.
Marshall MXLV67 and 603S microphones - These are copies of the AKC C12VR and the Neumann KM184s and they rock, for dirt cheap. They're Chinese, but they sound and look killer.
Audix TR-40 (MBHO MB-550) omni mics - Made by MBHO in Germany, these are great small omni calibration mics for a reasonable price.
Beyer soundstar MKII - These SM58 look-alikes are bullet proof and they sound great. You find them on ebay every so often.
Beyer M201 hypercardioid mic - The "other" snare mic. Better than the SM-57 for most snare sounds.
Audio Technica ATM-25 Kick drum mic - Often overlooked because of the AKG D112, this is another great mic when you want the tight big bottom, with a lot of beater crack.
T.H.E. mic line - Unveiled at the AES show, these are gonna be real contenders from Germany. The binaural head at under $2k is amazing, and their reference mics are fantastic. The reference mics lie between the Audix TR-40 and the B&K omnis with VERY low noise. They're several steps up from the Oktavas, but built like little jewels.
dbx 120X sub-harmonic synth - If you need that big kick sound(I mean a "BIG" kick sound), try running the kick thru one of these babies.
Boss Se-50 Stereo Effect Box - ebay cheapy, but still a really useful multi-effects box, vocorder, lush chorus, fairly quiet, and a good second effect.
Beyer M260 Ribbon mic with the $125 Sank mod - This turns a 260 into a wonderful warm RCA 77DX - for cheap. The straight body works better than the tapered body.
There's more, but those are a good start.