I play an Ibanez Soundgear 305DX 5string. Great bass. I think your best bet would be to check arund the 2nd hand shops (pawn/consignment shops) as i think the price of a new 5 string is a bit out of your current budget for bass and amp.
However, Ibanez makes great 4 strings as well. The necks are extremely comfortable and the strings are well spaced.
www.ibanez.com 
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Yeah, indeed. I've been doing some research after my first post and 5 strings are a tad too expensive. They had a 5 string at the music store last month for around 250 € though, but it seemen kinda crappy so I'll go with a 4 string.
So, right now I've narrowed it down to three options:
- Ibanez GSR 200;
- Yamaha RBX 270 or 374.
If my pocket is deep enough, I'll get the RBX 374. If not, I'll probably go for the Ibanez.
as for amps...i have a Fender BXR60 that i've been pretty satisfied with. 60 watt amp through a 12 in. speaker. Though i haven't run it alone since i got my ESR 100watt valve state head 
But i think a 15 watt practise amp would be enough to start off with. They are usually fairly cheap. Peavy is usually the first company that will be suggested to you by the stores i think. They hold up to a fair amount of abuse.
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Hehe, your setup sounds like fun. I bet the neighbours don't like it though...
Anyway, as in the bass this will depend on money (or lack of it).
If I get the RBX 374, then I'll probably get either the Behringer Thunderbird BX 108 or the Behringer Ultrabass BX 300.
If I get the Ibanez or the RBX 270, I'll get a better Amp - the Drive CD 300B or the Crate BT 15 seem like good options.
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good luck in your search. Look forward to seeing your new gear up in the basses/guitars thread
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Thanks! And thanks for the advice too.
As for the thread, I don't have a digital camera so it'll be hard to get any pics, unless I borrow my cousin's digital camera...