AJ, I do not know very much about riding fixed gear bikes on the road or lower priced fixed gear bikes. Today, I went to the track and used a 47/17 combination. I cruised around with my buddies. It is a nice warmup gear and off season training combo. I have the flip/flop axles on all my wheels (not discs). I go to the track with two rear wheels. One with a 16t cog and the other with a 15t and 14t.
For chain rings, I have 47/48/49 and 50. I think for road riding with grades, you may need smaller chain rings but maybe not.
I will offer one cautionary note to new fixed gear riders on the road. Be very careful pushing the fixed gear with too big of a gear and/or spinning too fast downhill. I know of a couple of our club racers who eff'd up their knees riding fixed on the road. And the other very important matter is not to stop pedaling. If you stop pedaling when you are at a high speed and cadence the bike will face plant you into the ground. It is all bad from there.