I'll admit that I haven't read much of this conversation, but I wanted to comment that I don't think equipment is anywhere near as important as most people make it out to be. Most classes would not be affected much by the compete removal of textbooks. Only a handful of courses (math, physics, etc) use textbooks extensively, and for the most part, textbooks that are outdated by 10-15 years are perfectly fine. Sure, certain areas in the field of medicine can be completely flipped on their head over the course of 10-15 years, but the same can't be said about basic sciences (and certainly not algebra). There are a few topics that may need to be introduced, but a good teacher can easily make a lesson plan for a few days without a textbook. Furthermore, a chalkboard or one of those cheap overhead projectors is just fine for lecturing -- state of the art technology is not.
Which brings us to a more important topic -- good teachers. Teacher pay is huge. As far as I know, though, there are financial incentives to going to poorer school districts. I have several teachers in my family, and I know some of them have gone to lower income school districts for the loan forgiveness. Further increases in teacher funding to keep teachers from having to teach more than 2-3 different curriculum would be reasonable as well.
I think the school district you grow up in makes a huge difference in the outlook of your life, but I think a lot of the issues start in the home. There's no substitute for a stable home with two parents who take a personal interest in your education. That obviously doesn't negate the need to optimize the school system, but I think school system money is only part of the issue, and probably not the majority of the issue.
The learning environment can't be fixed by just money. Even if you had the nicest building with state of the art technology and the newest textbooks, that only goes so far in changing the environment. I had a friend that went to a school designed for those that excel in math/science, and he said that the most important thing that did was place him in an environment where it was perfectly acceptable to be taking calculus as a freshman and spend all day studying. At other schools those kids may have been made fun of or felt out a place for that. No matter what happens in the school, I don't think you can create that environment until you fixes issues in the home.
I certainly don't claim to have the answers, but I think it's reasonable to wonder if any amount of money can fix those districts. Perhaps the best solution is to make it easy for those with the motivation to get out of those districts rather than sink boatloads of cash into a sinking ship. Perhaps they could find a few great teachers and give them a 10-20K bump in pay to set up AP tracks for students in low-income districts (to make a good environment for learning within a larger environment that is not).
I'm going to stop now, because I'm probably starting to ramble. It's a topic that interests me, and is undoubtedly one of the more important topics in this country currently. Poor school districts certainly could benefit greatly from a little bit of money. I just think that the issuses start in the home, which isn't something the government can regulate very effectively. Certainly a very complex issue.