While it isn't impossible to set up a new bow from one of the Big Three (Bowtech, Hoyt, or Mathews) for under $1,000, I would suggest looking into one of the more moderately priced manufacturer's bows. That being said, here is a reply I made recently in a thread similar to this.
As you can see from all the names being thrown out at you, there are plenty of excellent mid-range pirced bows on the market currently.
Bowtech has Diamond.
Hoyt has Reflex.
Mathews now has Mission.
My suggestion, as it always is, is to visit your local pro shop and shoot as many models as you can in your price range. Trust me when I say that at least one bow you shoot will just feel... right. It'll grab you and you won't want to put it down to pull your wallet out.
Shoot some of last years top shelf bows too. You'll find excellent deals on fully set up bows over on ArcheryTalk.com
Among these I would strongly suggest Ross and Bowtech. But again, shoot as many as you can before making any deicsion.