In light of having so many new members, I want to cough up a few designs for PVP-worthy ships that are both useful and extremely cheap. Let's get crackin'!

Restrictions:

Frigates: Under 1mil
Cruisers: Under 10mil

I'll start:

My Merlin:
Highs-
2x 75mm rails
2x Malkuth Rocket Launchers

Mids-
1x MWD
1x Small Cap Booster 1
1x Stasis Webifier
1x 2 pt Warp Scrambler

Lows
2x Overdrive Injectors

I won't be killing much anytime soon, but I can tackle a BS with this setup. Plus, its low cost means I can replace it with ease! (FYI, I have a 6-pack of these bad boys in Irm just for that purpose)