This is a very entertaining thread
Lets get serious;
Who actually needs a 6.5 digit DMM?
That is ridiculous for a 5K lab.
Forget the spectrum analyzer right off the top, buying a new SA that might be worth a damned on a good day when the sunshine was just the right shade of white would take too much of that 5K.
Don't even consider doing anything serious with RF.
Your big purchase will be your scope, so you need to decide if you really need a low end Mixed domain scope or just a DSO of reasonably good quality. From here on out the rest of your gear will be ether low-low end stuff or just low end stuff.
The other thing I don't see mentioned here; what about all those cables?
You going to buy them or make them. I prefer to make them since I am very good at it and know my workmanship is good to well beyond UHF by a decade or so.
Until quite recently I often questioned why you'd ever need a 6.5 digit DMM having spent the past 98% of my life without one, living perfectly well with 3 3/4 digits for many years thank you very much. For me it's not for absolute measurement, but for relative measurement: I do a fair amount of rework, and tracing down shorts, and badly behaving parts in circuit on a PCB is so easy with a high resolution DMM, and now I'd get frustrated without the resolution. But I'd agree, for absolute measurement the value of 6.5 digits still eludes me in a practical sense. I would not buy a 6.5 digit DMM new, or calibrated, there is just no value to me to be able to measure absolutely. The same is not true in the frequency domain though!
I'd agree about an SA. They're the most under utilised pieces of equipment in my lab, and I just made a count and have five of them, from 1.5GHz to 22GHz. The two VNAs I have get quite a bit more use than the SAs.
As well as the scope, get some decent tools especially soldering irons. I use four different irons almost daily for SMD rework, three Wellers (two 80W with different sized tips and a tweezer) and one bargain basement hot air iron from eBay which I'd have no hesitation in buying again. Well within three minutes on a rework job on a chip I'll use all four, and sometimes on the tweezer and hot air iron I'll swap bits.
If the OP must get an SA, what about a Tek MDO3014 and liberating its bandwidth (and everything else)?
I agree about cables, I have always made my own as a general rule... but they often do look pretty useless on a TDR compared to the professionally made high end brands like HP/Agilent Radiall etc., and for the VNAs above 100MHz or so I use the real thing for measuring stuff, no point in introducing more unknowns than you need to.
Buying everything at once as if that's it, there will be no more, doesn't sound right though. I didn't know I needed a 20GHz oscilloscope until a few months ago. Come to think of it, I probably still don't really need one, but being able to squeak at 10ps/div sure makes me feel good. Somebody call the doctor.