My studio has all the basics (mid-grade) and we are currently upgrading to "pro" gear as we can afford it. We are also starting our own label/publishing company.
Les Paul, Fender Strat, Ovation Viper (solid body electric), a custom electric, and a Takemine acoustic.
Yamaha SY-22, Korg DW-8000, Roland A-30 controller
K2000r, Alesis QSR, Roland MKS-20, EMU Vintage Keys
7 piece Pearl kit and various percussion toys
Lexicon LXP-15 and alex, A.D.L. tube compressor, Berhinger and DBX compressors, Hush and DBX noise reduction, Digitech Studio 400, Alesis Q2 and MidiVerb4, BBE Sonic Maximizer, TL Audio Tube mic pre, Focusrite Red 8, and Roland GP-100
CAD, Shure, AKG, and Octava condenser mics. Shure, AKG, Audio Technica, and Senheiser dynamic mics.
Mackie 32 channel 8 bus with meter bridge, Mackie 1604 for keyboards
Alesis ADAT XTs (16 track, 24 in near future) w/BRC, Panasonic SV-3800, and Sony cassette machine.
150mhz pentium, 48 meg ram, 5 gig HD, CD recorder, 17" monitor
CakeWalk 5.0, SoundForge 4.0, Alesis Soundbridge.
Music Quest MidiEngine 8port/SE rackmount, and a custom made electric dulcimer.
The studio control room is located in a room I built in the garage, and two of the bedrooms have been made into isolation rooms. A 24 channel snake links the control rooms with the isolation rooms and we have video monitoring of the rooms.