We bought a free standing unit that has a punch/kick bag on one side and a speed ball on the other. It's pretty good. It cost around $200. I have heaps of gloves lying around back from my karate days (a little different to boxing gloves though) and my last pair I bought a while ago through a kickboxing class I did for about $25 and they are good - lots of protection. I sometimes just use gym gloves to stop my knuckles grazing if I want to get a more 'realistic' feel for my punching.
You can get some much cheaper than that.
I don't use it all that often because it's in our shed which is dark and dusty
Need a bigger house so I can have an indoor workout room - one day ...
It's a great workout, though. I was doing the 8 seconds to weightloss thing using the punching bag and speed ball and 20 mins would just fly by... but too dark and cold to get out there now.
Just keep moving! And don't be lazy...
SW: 74.3kg - 1/1/09
CW: 71.1kg - 3/5/09