I'm starting with the repstrap route. My design is based on the Prusa/Mendal sorta kinda in that the Y axis is the bed moving front/back, X axis is on a liftable gantry which is the Z axis.
Two stepper motors for the Z axis which I'll probably wire in series because they are 2.7v 1.8A units. I got a good deal on NEMA23 steppers at $5 each at a ham flea market.
I'm going to use 14" long ball bearing drawer slides as the linear rails, giving me a useful travel of 7". So my build size will be about 7x7x7. The frame will be built from steel and aluminum angle iron and threaded rod. Since
the HW is coming from HomeDepot, I'm calling this the "DepotStrap". I bought a J-Head hot end kit for $17 on ebay, as well as a RAMPS for $17 and a set of four stepper boards for $25. I already had an Arduino Mega.
I also already have a 12v 10A power supply I can use. So far it looks like my cost is close to $250, but I still have to buy a spool of filament, so it will be closer to $300 before I'm done.