My current setup is very minimal. I have an electric keyboard (a Privia PX-110) for Midi input of notes, and a Korg Nanokontrol that I’ve rigged to send CC data (the Privia doesn’t have any sliders).
My audio interface is a Saffire 6 USB and I have one microphone, a Behringer B2 Pro, a decent condenser for the price. My monitors are Resolv40As from Samson, which are quite terrible, but they were free and they’re all I’ve got at the moment. I’m used to the sound at this point so that’s the most important thing, but the next thing I get will some decent monitors.
My actual computer is a Late 2009 MacBook Pro, 2.5 GHz Intel Core 2 Duo, with 8GB of RAM. For convenience I have an external LG monitor which I use as the primary screen when I’m working in the studio, and I run all my samples from a Glyph HD (I forget which one; the 2TB model).