This is the sound system I currently use:
My turntable is an ION TTUSB. I like this turntable for it's size and the quality of the arm and stylus cartridge. Alot of USB turntables are small in size which is good if you have limited space, but I really don't like my vinyl hanging over the sides. The downside of this turntable is that it doesnt have a dust cover, but it is available with a cover (TTUSB DC). I have emailed ION to see if a dust cover can be purchased separately and await their reply. (UPDATE - Reply requested that I call an American phone number and ask if dust cover is available separately.....hmmmm.)
I run the turntable through an old NAD 7125 stereo receiver, which produces a nice clean sound and higher volumes than I can get away with in my batchelor apartment (with paper thin walls!).
The speakers I use are RCA RS2640 Bass Reflex. They originally were part of the RCA RS2640 mini stereo system, but I bought them without the system for cheap from a pawn shop. There are some bad reviews online regarding problems with static and 'buzzing', but I have had no problems, so that could be related to the stereo itself. They are certainly nothing special, but they suit my current living space.
Feel free to tell me about your own sound systems or ways you think I can improve my setup (without spending a small fortune!).