Any non-TLR setup (Mamiya RB/RZ, Bronica SQ/ETRS, Hasselblad anything) will probably still end up >$200 or so for a complete outfit. Film is on par with per-roll prices for 35mm, but remember that from a roll of 120 you will only get 16 frames tops, maybe 12 or 10. So I guess you could say that medium format film costs 2-3X that of 35mm on a per-frame basis.
I really wanted to buy a nice medium format setup when I was shooting 35mm, but since going digital there's not really much motivation to do so in terms of image quality. Still, I think it would be nice to get an old Mamiya or something just to run B&W film through. A Holga's fun, but it doesn't really produce medium format quality.
Oh, and RE: effective focal lengths, the 35 mm equivalent focal length is about the exact opposite what it would be on an APS-C sensor. A 127mm lens on a APS DSLR ends up around 190-200mm (depending on brand), whereas on a 6x6 it would probably be around a 60 or 70mm.