I've been reading here a bit on what people have used to build their labs and I've come to understand a few things. It appears that many agree that a GNS3 simulation will get one about 60% of what they need to understand the switching for the CCNA tests. A single hardware switch will get a person about 80% of the way. Getting to practice with 95% of the material requires at least two layer 3 switches with 3550 or 3560 series typically recommended. To cover 100% of the CCNA material, and about 90% of the CCNP material, one should have three switches. With four switches one can cover all the material in the CCNA, CCNP, and a vast majority of the CCIE. Getting more than four switches is just showing off.

What I've been wondering is if there is some sort of software out there that can emulate a switch and allow me to replace one of these switches with a common PC. Most of the protocols that these Cisco switches use are standardized, well documented, and publicly available. The reason that people use so many switches is not so much that they can type things in twice for setting up both ends of the link but mostly so that one switch has another switch to bounce packets back and forth.
If such software exists I'd like to know what it is and what you think about them. I ask this because money is tight and I need more practice. I took the ICND2 test a couple days ago and got a score of 706. More importantly I had the terrible realization during the test that I was completely unprepared for many of the switch questions since I have only one suitable switch in my lab. I have not been able to practice on link aggregation, spanning tree, trunking protocols, and so on. I've been able to really just read about them. I found I learn better by doing. I need to read about it and then do it before I understand it.
I need to decide real soon on what switches to buy and how many. I believe I'll get at least one 3550 switch. Once I get passed the ICND2 I need to keep moving onto the CCNP tests so please keep that in mind for any comments you may have. I found a place that is selling 3550 switches in the $150 to $170 range, does that sound like a good price?
Everyone here has been very helpful and I really appreciate that. I hope that one day I can answer more questions here than I ask.