I would suggest this Pennsy Flyer. This is the same set our modular club is giving away in our raffle. It is $10 over budget. I'd be looking to mow some grass or wash and wax a car ASAP.
This gives you 40"x60" of FasTrack, Transformer, Lionchief remote control, two freight cars, a caboose, and a very attractive 0-8-0 steam engine. The FasTrack is great for setup on the floor and is durable when you're frequently putting it together and then taking it apart.