Question : Workstation Audit Software

I am looking for auditing software that will report basically everything about a workstation, hardware installed and software installed.

But i need it to be cheap to free. Does anyone know of such a product?

Answer : Workstation Audit Software

Try Spiceworks http://www.spiceworks.com/
LanScanner http://www.radmin.com/products/utilities/lanscanner.php
or Microsoft Software Inventory Analyzer which works very well:
http://www.microsoft.com/resources/sam/msia.mspx