Here's my cheapo kit.
Pulse Laquer Pro (Musician's Friend house brand).
The shells are actually pretty decent. The hardware sucked. I've replaced most of the lugs since the stock ones would split or strip before you could get the drums tuned. The stands aren't something you'd want to take on tour, but since mine never leave the house, they've held up fine for a few years. One or two of the stands in the pic are actually Tama stands that I acquired somehow several years ago and are much higher quality than the stands that came with the kit.
The kick pedal and hihat stands are junk, but they work well enough for a crappy drummer like me.
The cymbals that came with it were worthless, but I've since replaced them with a cheap set of Paistes (I forget the name of the pack I bought, but it's a 14" hihat, 16" crash, and 20" Crash/Ride). They sound pretty good. I guess I've still got one of the junky Pulse crash cymbals on the set, but it's not one I like to hit very often.
I guess for what they cost, you get a playable set of drums that with a couple hundred bucks in upgrades becomes a pretty decent kit.