Gibson will put their name on crap, my dad had a les paul studio, the finish was horrible (the neck gummed up if you played it even for a few minutes), and the frets were dressed badly. The tone was OK, but if it doesn't play well, then what good is it?
As for Epiphones, shop around. But to reitterate a few points made earlier, Settle for nothing less than a set neck and humbuckers. I can say my little brother's Epi is one of nices playing and sounding Les Pauls I've seen in the area (excluding multi thousand dollar instruments of course).
Next, Peavey amps:
Their tube amps are good. I'de take a Classic 50 or Classic 50/410 over a fender any day. It's simply a far more versital amp, and sounds great too. Especially for the money. Basicly, any Peavey tube amp should be a good buy. For guitar, they're is no substitute for tube amps. But shop around, and see what you can find. Look for tone and relyability above all else.