I voted for 100 - 150 cheapo for home practice.
I got a 110W cheapo (think loudish 50W) combo... does great on it's own, Ok tone - decent EQ and 1/4" headphone jack for quiet If it's late... And It holds up against a moderate drummer.
No doubt it'd suck even as a monitor in a loud band, but you can't have it all.
I'd say given the cost of a full rig, The combo is handy and not a big overhead. Portability is also great, especially if the rig is a vintage lead shipping container filled with lead.
I'd see most people would be happy lugging a fairly compact, light 'NEO' rig around but those are pricey, compared to both the giga-tonne rigs, and the combos.
If you want cheap and portable, you can't get very loud. Nothing is cheaper and more portable than a combo. except for headphone amps or pedals / audio interfaces and whatnot. I haven't a lot of experience with these but I'd guess the lack of decent bass response in many PC speakers/ headphones make this a little more than plug and play too.
For home practice a rig is fine, but overkill for most. A great combo would be Ideal, along with high-end headphones for late ones. An OK combo is OK too, but you'll end up like me and want to upgrade to a light rig / better combo pretty soon.
Or not. I can get good tone, but I want more!