Bubbletrubble, appreciate your comment thanks.
I was considering Mares because of the price and I have try them here and was very pleased with them. What would be a manufacturer that you would recommend for $700?
Here is another option that came to my attention recently, this are all used equipment;
Price $550, (I might be able to get the offer down to $450 but it is not secure that I will)
BC – Mares Origin Sport , (has approximately 120 dives)
Regulator – Sherwood Oasis, (have close to 3 years and maybe between 150 and 200 dives)
Octo – Aqualung, (has about the same time and use as the regulator)
Analog Guage – Sherwood pressure and depth gauges
Tank – 80 CU FT Standard Aluminum Tank, (has 3 years but very few dives - visual inspection)
Belt and Weights – 12 punds
With this option I could have $250 to safe and add up later for a digital computer. What do you think about the package for $550?
The issue with used equipment, particular a used reg setup, is that the gear should be inspected by a competent reg tech and overhauled if necessary. Reg overhaul including parts and labor can easily run $100. You really need to consider this in your price:value equation. Also, if you have a reg that mixes brands (Aqualung, Sherwood), this can be problematic when it comes time to have the reg setup serviced...since you'll need a reg tech who knows how to service both brands. This isn't always a big deal, but it's something you should be aware of.
For a BCD, I'd recommend getting a used one in ready-to-dive condition. I would not buy a used BCD without being able to test it out first...or given assurances by the seller that if the BCD is not 100% functional, he will accept a return. I'm sure that the Mares Sport BCD would work just fine. At $200, that sounds like a fairly economical choice,
provided that you are sure it's the BCD you want.
For a budget reg, I'd probably go with a new HOG reg setup. It's got a lot of nice features, and its performance seems to be quite good. You can purchase a HOG first stage with 2 second stages and hoses from reputable online retailers for about $350. The fact that the regs are new means that, with appropriate cleaning/storage/maintenance, you should be able to get at least 2 years of issue-free diving out of the reg before getting it overhauled. Service kits are sold online at a reasonable price. Any competent reg tech who services Apeks and Apeks-like regs should have no problems servicing HOG regs.
For SPG, I'd probably go with a simple brass-and-glass gauge (approx. $50). You can probably purchase this from the same retailer who sells you the reg. Make sure that you order the SPG with a high pressure hose of the appropriate length. Standard length is approx. 32 inches. I prefer a HP hose that's a little shorter than that.
For a computer, I'd recommend getting a simple, used computer. Make sure that it is in a ready-to-dive condition, has a user-replaceable battery, is easy to use, and is easy to read. A computer that is nitrox-capable would be a bonus. Personally, I like having the option of being able to mount the computer on the wrist (using a boot + bungee cord). Good brands to look at include: Oceanic, Aeris, Mares, Suunto, Scubapro/Uwatec, etc. A while back, I purchased a used Suunto Vyper for about $100. If I had to purchase a new computer today, I'd probably end up with the Uwatec Aladin 2G.
For a tank, it pays to be patient and buy a used tank from a local seller. The last one I purchased was a used HP120 steel tank for $50. I then spent another $30 for a hydro/vis/fill. You should be able to find a used AL80 tank in that price range.
For lead weights, buy used.
Before I purchased any of the above, I'd make sure that I have a mask that fits my face and an exposure suit (wetsuit) appropriate for whatever my local diving conditions are.
These are just my recommendations. I'm sure others will have differing opinions. FWIW, there isn't anything wrong with buying a reg/BCD/computer package like you listed in your original post. Over the years, I've figured out that I have my personal preferences for scuba gear, that's all.
Good luck with everything...