My 'studio' setup.

Hardware:
Macbook Pro (2.8 Ghz)
M-Audio Profire 610 soundcard
Oxygen25 MIDI keyboard
APC40 Ableton Controller (More for use as MIDI input for MAX/MSP than for Ableton)
Korg Mini KP Effects Processor
Beyer Dynamic DT100 headphones
Sony Technics SU-V85a Amplifier
KRK RP8 Monitors
Roland Gaia SH-01 Synthesizer
Moog Slim Phatty Analog Synth
Zoom Studio 1204 Effects processor and vocoder
Homemade Plate Reverb (see post for how to build)

Software:
Logic Pro Studio 9
Max /Msp 5
Supercollider
Pure Data
Traktor DJ Studio
Ableton Live