RE: Newbie needs a bow.
Well if your draw is 28" with a compound, then I'd say you will probably be around 26.5-27 inches with the recurve. You probably could get away with a "normal" recurve bow made for a 28" draw. Or you could get one custom made for you.
Problem is that if you go custom, you will usually have to wait at least 6 months or so. If you want to go that route, talk with Chad (LBR) here or visit recurves.com.
Another option would be to look for a used custom bow with a 27" draw. It shouldn't be too hard to find. If you can, go to a few shoots and check various classified sites.
Also keep in mind though that a 28" bow should also work for you. But a 27" would be made to have the limbs loaded at your particular draw. Byron Ferguson suggest FWIW to go custom if your draw is below the intended draw of the bow.
Its hard to say with traditional equipment what is "good". What is good for one person does not mean it is good for another. Dollar value does not always correlate with what is good for a particularindividual. SO I won't be able to give you a dollar value as you asked.
Also,since your state requires 50#'s for big game, I would go with that amount, but nothingmore. And if you get a bow that shoots 50# at 28", your pull would be around 47# at your draw length. I'm not sure if a warden would slit hairs with something like that (he would have to measure your draw and the bow at your draw to see what the actual #'s would be).