Fan and Carbon filter - 66 Dollars
Fabric Pots - 5 gallons - 17 Dollars
Fox Farms Nutrient Trio - 29 Dollars
Mephisto Double Grape Seeds - 45 Dollars
That's really all you need. Some parts are cheaper than others and will eventually need upgrades, but whatever, it'll last for a grow or two.
Total: 448.25.
So I was off by ~50 bucks, but only because I included seeds. Be nice and I'm sure someone has clones for ya. :)
edit: And of course you can always get _more_ stuff. Frankly I'd include a bit of pH Down if you're here in the Chicago area, but that's like 5 bucks or something.
edit again; You could probably get a cheaper light, but those things are a BEAST for the money and will last you basically forever. If you go to a 3x3 or 4x4 you can just buy another one or two of those and be good to go.