Here's my bike, a true budget ride:
It's pretty sad, but I really enjoy riding it. I mostly ride technical singletrack and some light AM (don't judge). Most of the guys I ride with have all best gear and more experience so, I consider myself fortunate that I am actually able to ride the same lines as them. Actually, that kind of explains how this frame has been so heavily modified. I was trying to keep up with guys on 6" bikes on this bike when it was stock. Over time, I tweaked little things here and there, and soon I had changed every part. The nice thing is, when I upgrade frames most of my parts will be suitable for the new bike, so it will be a little more plug and play. Anyway...
Spec:
19" pre-disc Rockhopper w/RS Tora 289
Deore XT rear, Real disc front
Vredestein 2" tires (would like to have 2.3s and a better tire)
Truvativ FireX GXP crank w/Deore XT 9s chain rings
Shimano clipless trail pedals
Deore XT 9s shifters, derailleurs, and cassette
STX levers and a front Avid BB7 disc
XTR cables
Easton EA50 seatpost
Easton Haven 71cm bar and 70mm stem
Odi Ruffian grips
WTB Speed V saddle (would love to change this)
All told, I probably have about $350 in it, including my Sidi clipless shoes.