I would expect to get a decent light, cells and acceptable two cell charger for $50 or so, it would be worth perusing fasttech, intloutdoor, cnqg, sb flashlights, illumination supply and seeing what takes your fancy.
For cells, look at sanyo, Samsung and panasonic based protected cells then your set for series lights as well. I like the 2900mah sanyo cells from fasttech but they are fat and a tight fit in a couple of lights I have. I just got an xtar wp2 II charger that I like a lot.
For lights, the convoy m1 and m2 are nice p60 sized lights, if your handy with a soldering iron the d5 host from cnqg produces a really really high quality light, the beauty being you can pick your specific tint and driver options, I would get an xm-l 4c emitter, qlite driver from intloutdoor along with 20mm contact board, 2900mah sanyo cells and try to get the xtar charger I mentioned, its a good chunk of $50 or so, but a really nice package when built, I also did a build thread on this host.