I'm trying to minimize expense and space for building a home gym. Please give me any suggestions for what equipment you feel would be absolutely necessary to do a real workout. This is not to replace the gym, just to have it available to me when I don't want to go out (for example, I'm late off work and I don't want to drive to the gym at 6pm...). This is what I've got so far:
Olympic weight set with 2 bars (25# and 45#)
Power rack with chin bar
Dumbells (thinking of these: http://www.powerblock.com/frame.html)
I may make the dip station myself as something that hangs from the ceiling and doubles as a dip station/hanging situp bench.