I'm a week late in reading this, but last week's article in the NY Times by Mark Bittman about a low frills kitchen for $200 really reminded me how our cooking choices are influenced by our culinary heritage. In other words, I would not have made the choices he did in a lot of cases.
For instance he says that you need some expensive burner kit to 'properly' use a wok, so you might as well forget it. A decent wok was the first thing I bought for myself when I was starting out on my own was a decent wok from a local Chinese kitchen supply shop, and it worked fine on my regular issue gas range. Another thing I also got was an inexpensive rice cooker like this one (which you may note costs less than his totally extraneous vegetable cutter gadget). I may not have made rice 'twice daily', which he says is your criteria for purchasing a rice cooker, but I relied on it all the time, especially for making my own bento lunches which saved me tons of money in the long run.
Three steel bowls? One that's big enough to handle most tasks is fine. If you need to lay out ingredients or something you can use your dinnerware (which I still do when I run out of bowls and such.) 3 different frying pans? I just had a small one, and the wok, which is much more useful than multiple frying pans. I still only own three frying pans and a large flat-bottomed wok, and the last gets much more use.
I think when you are equipping a kitchen, regardless of budget, you have to really ask yourself how you will use it.