For any of those interested, this is the forums for Bolt Action. Lots of discussion on rules and threads concerning painting.
http://www.warlordgames.com/forum/The factions are German, US, Russian, British, French, Italians, Poles, several eastern european nations, Japan, US marines, Chinese Nationalists, Chinese Communists. These are the ones that I remember most commenting on. With each nation, there are sub units that one can build a force for. British have regulars, Commandos, Airborne (Red Devils), Chindits (Pacific Theater), Gurkhas, and most of the above early war or late war.
Here is a link to go to and build your army and also print it out.
http://boltaction.easyarmy.com/ It has the costs built in along with the various weapon choices. I would build to 500 pts to start out, and this would let you know what figs to be trying to find.
A squad of inf. from Warlord is approx. $20 from Game Time Miniatures in Milford Ohio. The teams (MG, Mortar) in metal are about $12 apiece. The weapon and 3 figs, which make up the team.
I know that money can be tight, but the starter army has 3 squads plus figs to make a sniper team and an officer and staff. It also has the MMG team, mortar team, an AT team, and a tank of some sort. All in all not a bad buy.
Recommend finding a copy of the army book that you will choose. Would wait on the rules, as V2 is coming out the middle of this month.
Any questions, I will be glad to try and answer to the best of my ability.