I built a diy portrait lighting set up using several 5000k CFL bulbs (4 for $13) in 2 Bayco work lights ($10 from walmart) with Y adaptors to put two bulbs in each work light ($4). I use a shower curtain liner to diffuse the light from those lights. I have 4 bulbs on one side, and a silver reflector on the other. I also use an FGZ-360 flash with a diffuser (off camera, triggered by the on camera flash). It's a very cheap set up, and barely bright enough for indoor work.
Here's the outcome:
Untitled | Flickr - Photo Sharing!
For $50, it's okay. But I need something better that looks like less of a fire hazard.