Most of your respondents have addressed the long term investment issue, which you specifically said above you weren't interested in, but rather in the immediate results, by which I guess you meant which of cheap glass and expensive body or cheap body and expensive glass would produce the best image quality. Most manufacturers make a cheaper body which contains the same image sensor as the their best (or second best) camera, saving money on reducing controls, features, waterproofing, etc.. That cheaper body will produce just as good images as its expensive sibling, but in the hands of an experienced photographer not always quite as quickly, as easily, as often, and in such awkward circumstances.
That argument can be pushed a little further. Many manufacturers of both full frame and crop sensor exchangeable lens cameras produce crop sensor bodies with sensors good enough that it's very hard to tell the difference in image quality between the crop sensor body and the full frame body -- at base ISO. The superiority of the full frame sensor starts to show itself as the ISO rises. In fact if you can be bothered to use a tripod so you can shoot at base ISO with your crop frame body, you may well end up with better quality images than your full frame competitor who was standing beside you, but using his camera handheld at a higher ISO. In other words, for some extra struggle and inconvenience, and only for subjects not involving fast movement, you can get better image quality from a crop frame camera than a handheld full frame camera. Plus of course the cost of a good tripod, which is far less than the cost difference between crop sensor and full frame sensor camera bodies.
The situation is different with lenses. Generally speaking cheap lenses are just inferior to expensive ones. There are however some interesting exceptions. Sometimes a manufacturer will offer two versions of a lens, such as an f2.8 70-200mm, and an f4 70-200mm. The f2.8 version is much bigger and heavier and more expensive simply because all the lenses have to be much bigger. Sometimes however the lighter cheaper version is of the same design and quality as its bigger brother, it just can't produce images at all at apertures larger than f4. So in poor light or where fast action is concerned it will therefore be forced to use a higher ISO and thus produce inferior images. But in good light at apertures of f4 and smaller it will produce just as good images as its bigger bother. In fact, rather oddly, sometimes the smaller cheaper f4 version is actually a bit better in image quality than the f2.8 version.
You will also sometimes find that in prime lenses there will be two versions differing in maximum aperture, often an expensive f1.4 version, and a cheaper budget f1.8 version. There too the much cheaper budget lens will sometimes be nearly as good in image quality as the more expensive one, and again, sometimes it will even be slightly better.
If you happen to have chosen a crop sensor camera, in the lower focal lengths there are sometimes crop-sensor-only lenses of just as good image quality as their full frame versions, but which are smaller and cheaper.
In sum, if you're prepared to go into the specific technical details of lenses and bodies, are prepared to spend time learning how to get the best from your gear, and are prepared to spend some extra time getting the best shot you can manage, you can spend a lot less money on camera and lenses and get as good or better image quality than the well heeled photographers who hope that by buying the most expensive camera body and lenses the manufacturer makes they'll get top quality photographs without having to bother reading the manual.