You have very workable budgets for the big three. However the standard reply is to purchase your pack last! Once you have bought all of your gear, take it into your local outfitter and try on a few packs to see how they fit you with the load that you will be carrying. This is not only important for capacity (too big verses too small), but also different packs carry the weight in different places for different people.

For tents, it really depends how you feel comfortable. I personally use tarps-- they are lighter, quicker to set up and take up less room in a pack, however tarps are not everyone's cup of tea, but if you are interested then look at some of Henry Shire's products.

If an actual tent is what you desire, then I suggest you look around on the buy/sell forums because you can often find a Hubba Hubba or BA Fly Creek 2 which are sub 3lb two-person tents for your price range. If you don't want used, then finding a light-weight, two person, quality tent for $250 is a bit of a struggle. I know that REI as a two-person Quarter Dome for $260, but at 4lbs it isn't exactly lightweight.

If that is the case, then you would have better luck downgrading to a solo tent and for <$250 your options open up ten-fold.

As for your bag, for $300 you can purchase a quality 3-season bag. I am not too familiar with Wyoming seasons, but some WM 35/32 degree bags are under $300 (Caribou, Highlite, Summerlite)

I guess the other question is do you want down or synthetic? You can purchase MH Ultralamina +15 bag under $200 or a down Marmot Arroyo for under $250.

Honestly, the choices out there for $300 and under are vast-- I could go on forever naming names. What will really narrow down the bags are: 1) Down or Synthetic and 2) Your size.

Do some research, go to a few stores and see what works for YOU.