500 bucks will get you in the game. It is a big up-front hit, but if you want to play you got to pay!
(Actually, you can probably get by for a little less if you shop around or hit eBay.)
Think of it as an investment. Depending on what you spend, you should make it all back in 10 or 15 games. After that, it's all gravy and you'll be rolling in the cash!
As for Honig's, I have had nothing but positive experiences with respect to ordering baseball equipment from them.