About a year ago I picked up a very nice recurve from Saxon Archery in Ohio. He has a webpage, and I called him up and ordered one of his top of the line Hawk models, for about $950 or so. It's a beautiful bow, he makes them all by hand. He makes both long bows and recurves, ranging I think from about $300 and up over $1000, depending on the model and what exotic woods he laminates together. Mine draws at #74.
That being said, I also have a #50 fiberglass long bow that my dad had when he was a kid, and I learned to shoot with when I was a kid. It's probably close to 50 years old. I still like to shoot it, and it works well.
It depends on your tastes, you can do some great shooting with a simple and inexpensive bow, or go for a high-end one of a kind custom piece that can become a family heirloom.
Is there much difference between a long bow and a recurve. I use to think that they were the same thing but there seems to be a difference in design.