Home NAS reccomendation?

Looking to spend as little as possible, but want at least 2 drive bays that will hold 1.5 TB Drives or higher and has a GB nic.

Any suggestions?

If you have spare hardware laying around you could build a FreeNAS box.

http://www.freenas.org/

I would agree. You can build a very effective NAS with some pretty ancient hardware with freenas. Or even cheap modern hardware. I built my NAS out of a $60 foxconn AM2 board, $25 LE-1150 CPU, $40 500W OCZ PSU(overkill but reliable and cheap), and a 1.5TB HD. I already had a case. I used WHS but Freenas works very well for free. That total is less than you will pay for most decently performing commercial NAS's but with with greater freedom in future expansion.