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All depends on your expectation of 'decent' and intended usage. I've slept out many UK spring/summer nights with a £110 Decathlon sleeping bag, £35 decathlon mat and the £40 alpkit bivvy and always been absolutely fine. That all packs to a size and weight that I consider reasonable for the use case I have (touring and just sleeping outside whenever possible because I like it). My uncle does the same using probably £80 max worth of kit from army surplus and ebay and he's entirely satisfied with that. I'm sure enduro racers looking for maximum efficiency and marginal gains have different critera...
Appreciate this isn't entirely helpful, but without knowing exactly what you want to do and what your priorities are it's very hard to answer.
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For my fair weather camping setup I think I spent 300 quid in total on bivvy, quilt and insulated mat. The mat was the only one I got full retail though, the quilt I got in the a sale and the bivvy on a good discount. I've also got a tarp, ground sheet and poles which cost me about 60 quid in total.
Is £300 likely to get me a decent bivvy, sleeping bag and mat? Like everyone I want something reasonable light, not bulky etc. Probably more for spring/summer temps. What would you buy?