We just re-did our bathroom last year. Doing the work yourself will save you lots of $$$. Our remodel ran us about $3,500 which included a better quality vanity (solid wood not veneer), Swanstone counter, Tub(American Std.) , fixtures (Delta) and tile (Floor and tub surround) and new drywall & cement baord for under the tiles (both floor and walls). The previous owners had recently replaced the toilet (basic white) so we kept that since it worked fine.
We only tiled the tub surround on advice from the kitchen and bath shop where we bought the tiles, vanity and countertop. We went with a 6x9 tile on the walls and 8x8 on the floor. I thought it would overpower the room, but it looks great. The lack of tiles on the walls actually gives the room a warmer less "sanitized" feeling.
Note: be prepared for LOTS of garbage. We did the demolition over the course of a few weeks so we wouldn't have to rent a dumpster. I'm sure our garbage men loved us. Also, we ended up taking showers in a tub with bare stud walls and plastic sheeting covering the walls for a couple of weeks. Looking at the finished product, it was worth all the inconvenience we put up with.
Another point, if $$ is a object, do things in stages. We had the room complete and re-used the old vanity until the new one arrived. Also, it tooks a couple of months to find the "right" light fixture. Until then, a 100w bulb in a basic ceramic fixute worked fine.