My setup is very simple, just using a M-Audio Keystation 49es as my MIDI input, I don't have an audio interface although I know I should get one but I'm ok with the 10ms lag I get from the ASIO4ALLv2 drivers I use, I have a decent pair of monitor headphones, Audio Technica M50's and I used Reason as my main DAW for many years but recently switched to FL Studio however I feel relatively comfortable making beats on both DAW's now. I also have some generic speakers, haven't upgraded to monitor ones yet.
Also forgot to mention in my intro I love love love sampling, not related to my setup but it's related to the style of the music I like to make.