Put your money into three areas: Antenna/Feedline; transmitter; and stereo generator/processing. With a good combination of these three elements you can have a good sounding station, with good coverage, even though the entire studio is a computer with a professional sound card.
We built a 900 watt NCE station here in the hills of WV using ERI's low power antenna, works fine and saved considerable $$$ over the larger ERI antenna (Believe it is the 100 series, not the FML--rated about 500 watts per bay as I remember). Only caveat I would have is that it used coax for interbay connections, which might be a problem in areas that get a lot of ice.
We used 7/8th feedline, which is what I would recommend for your project.
The Armstrong line looks like a good choice for exciter/transmitter. Don't get something like the Broadcast Warehouse line. Nor anything with a built-in stereo generator/compressor, haven't heard any of these units that sound good.
For stereo generator/processing, I would look at the new Omnia One, or an Omnia FM3t, which you may be able to find at a discount since the "One" replaces it. The Optimod 8100 still is a respectable box, but the used market price on 8100's has been too high to justify consideration of an 8100 unless you can get a donation from someone.
Once the transmitter plant is in place, you can always upgrade studio equipment as needed. It's much more difficult to get funding to do the reverse.