I like to drink tea from fairly large mugs. A few years back, I found a number of Royal Doulton everyday mugs on sale for a few dollars each. The mugs are very lite weight, and they hold a fair bit of tea. These are the plain cylindrical variety. (you know, volume = pi r^2 h)
A little later on, I discovered the ones that change from smaller to larger as you move up the cup (more of a cut off cone shape). I like these ones so much now, that the cylindrical ones seem boring.
In any case, I think tea cups should be very lite weight, made of good china and with a nice pattern.
As far as tea pots go.. In the cheapest range, it seems that China is turning them out for about $4 each. They're sturdy and great for everyday use. They are a bit heavy tough.
If you're willing to spend $10-12, there's a fair number of lite weight good quality China ones.
I've seen really really nice ones for about $20.
Of course, you can always spend $200 on a Royal Doulton or other brand name pot.