Actually I shouldn't say I have $100 in it, that's what you see in that picture. The tank, regulator, and torch cost around $600.
That welder started as a Miller 225 ac stick welder. I bought a rectifier bridge from a guy for $40. It originally was in a 3 phase machine, so I only needed two sets of diodes. The big switch on the front is from a Hobart machine, I bought it on ebay. The coil and little transformer in the bottom of the picture is for high frequency, it was free. I still haven't hooked it up yet. I still need to build a circuit for the pedal, a circuit for gas flow, and one for high frequency control.
Id like to rearrange it a bit, make it taller and narrower, maybe I can set it side by side with my Mig.
There's a pic of a weld I did in the pretty welds thread.