Buy a good bar like the Texas Power Bar or on the cheap, but good end, the Jessup Powerlifting bar. Those two run in the $150-250, many times with free shipping. If you plan on OLing a bit, you'll need to get up into the $400 plus range for a decent one. But don't skip on the bar, the difference in feel and confidence in your lifting is enormous when comparing a decent bar to a $100 sporting goods store version.
As for plates? Craigslist is decent. but try a used gym supply, you can pick up used York milled plates or milled Ivankos for $ .50-75/lb . Just a bit better class of plate. The old black ugly bumpers are still the best deal for a rec. OL'er though.
Buy a good multi-angle bench for $300-500.
As far as power racks go, it's pretty hard to screw one up, cheap or expensive. Just look at the height, hole placement, and how it mounts to the floor(free standing, does it need to be bolted to the floor, etc....)
Add in a few adjustable dumbbell handles, maybe a curl bar, and #300 or so pounds of standard plates bought off craigslist, etc.... for dirt cheap, and you'll have a lifetime of fitness.
