I know our family's first computer was an IBM 486DX/2 but I have no clue on the specs or cost. Dad will have to chime in there.
My personal first computer was actually a gift from my parents after my d-bag (keepin pg there) roommate freshman year was letting me share his computer and then once something went wrong immediately blamed me and pw protected everything and always locked his computer (what I wouldn't give to have had ophcrack back then...). It was a Compaq (have no clue on the model) but 800mhz Pentium 3, 128mb SD RAM (which I quickly upgraded and continued to do so until I ended up with 768Mb), originally 40GB HD but HD crapped out and got a 80GB), added a 128Mb ATI 9600 All-In-Wonder (eventually replaced with a 256mb Geforce FX 5700), originally 150w power supply (stupid compaq) that fried out when adding a couple case fans (stupid awake on network connection bios setting).
I used to play Counter-Strike and get the same if not better FPS than guys in my CS Clan that had P4's with 512mb RAM and an ok video card. That was one of the things that made me happiest about this PC.
This computer was still up and running prior to my father purchasing an Atom board and needing a case to put it. I had a picture on the old forums of the Atom but not here with me to post now.