I wouldn't spend much on them either. I use an almost basic Logitech keyboard that is very similar to this (cost me $12 at MicroCenter - brown box).
I don't use mice/mouse, I am a trackball-kinda guy so I couldn't help you much with that but as long as it is optical, you should be fine. If you care to know, I use Logitech Trackman Wheel ($30). If you really want a mice designed for gaming then by all means, take a look at these. You should be concerned with how the mice/trackball feels and fits when in use, so go to a nearby store that would have them on display and take a close look.

Also, when you decide on a mice, whether optical or not (though I again suggest optical), make sure to test it on various pads. I had different experiences on different types of pads. The ones that have a foam or felt layer on top and soft rubber at the bottom seems to work the best. Another factor is the color, one optical(red) IBM mice worked way better on a black pad where the other one (blue light) performed better on light colored surface/pad.

I do not like keyboards that make too much noise, it should be quiet and smooth and as you mentioned it should have a good response. The newer keyboard will definitely be a lot different (muchier) than the older ones but with a little getting used to you might like it better as I did. I also do not like input devices with lighting around them, it might become distracting and affect your gaming. There are bigger and more important potential bottlenecks in a system than the FPS of the mice such as physical memory, CPU speed, Video Card specs, stability of PSU, HD performance, case cooling, upgrading to an EAX supporting decent sound card instead of the cheesy, inadequate sound card that comes with all mobos, bandwidth (if using it for online gaming as well)...

Bottomline, get whatever that feels right and works for you the best!
Afterall, it is not the tools that will win the game, it is the hacks....ehem, I mean, it is the player himself!