Fender GD0-300 OM Acoustic Guitar - $250 (8/10)I've been using this as my main acoustic guitar for a few years now, and I am very satisfied with it. It has a nice sound to it and a deliciously bright tone. It feels right in my hands, and is quite attractive (the picture doesn't do it justice). The only problem I have with it is how god damn stinky the strings get compared to all my other guitars. They start to smell bad almost immediately after you start playing with them. It's not perfect; there are higher quality acoustic guitars, but for this price, it's hard to beat.
-Tasty bright tone
-It's acoustic, so it can't be plugged in and made into a distorted abomination.
-Strings get stinky.
Line 6 LowDown LD15 Modeling Bass Combo Amp - $180 (5/10)This is a pretty mediocre bass amp. It has fairly good distortion, effects, and EQing options for a low price. I think I might have been asking too much from such a small amp, trying to make it loud enough to be heard over drums, guitars, and vocals. I think it would work well as a practice amp, but I pushed it too far and it's no longer capable of performing on a regular basis.
-Pretty nice distortion, some goofy effects.
-Mine is broken.