For those of you looking for a good deal on inexpensive, protective gear, remember to check www.newenough.com, they always have amazing deals (and reviews) as well. This week, they have Setup boots for $79 and River Road Mesh overpants for $30. Unfortunately the Setup boots are only in 4 sizes (european 38-41), but if you're lucky enough to fit these sizes, these can be a really good deal.
I wouldn't count on these carrying you for the rest of your life, but you're completely poor after shelling out $3k on your bike and another $500-$600 on insurance, then you probably don't have another $1k to spend on gear. BUT do start saving for better gear asap. This is good starter gear, but I wouldn't count on them forever.