Troy,
I've done the same in recent times, with a colleague of mine.
A couple of Westcott 43" white satin umbrellas, a couple of light stands, and Cactus triggers.
Saving up for E-TTL PovertyWizards.
I've done a couple of shoots now, and, as much as I hate artificial lighting (I much, much prefer natural lighting), the results have been spectacular.
It is such an addictive and expensive hobby.
Regards,
Humayun