I'm still poking along with my nearly 2 year old pentium III 1ghz with 512 mb ram. I have Cubase VST-32 installed on it and an Echo Mona sound card / interface. My guitar setup includes a Rocktron Voodo Valve pre-amp, an Alesis Midiverb 4 and an Alesis 3630 compressor limiter, all rack mounted. I also have a vintage 1978 Ibanez Iceman sunburst with the single 3 coil pickup and an Ibanes JS 100. I haven't yet replaced my Rickenbacker 2001 bass that I lost when the person I bought it from 8 years ago, reclaimed it because he had stolen it from his brother.
I still have my Gallen Kruger 200w bass head and a Peavy 2/10x1/18 cab with crossover. I'm considering a Washburn or BC Rich bass when it fit's into the budget.