Yup, that size minimum makes things much easier! I really love the "Chebella" ring, it has a gorgeous antique feel to it, and you could put in a 7.5-8mm round stone, or a 7.5mm cushion cut in it! And it can be made in yellow gold! Linkage
Setting: $350, leaves $650 for the stone and bench work.
You could get a 1.5ct (7.5mm) fancy intense pink moissanite to go in it for $580, or a regular 1.5ct moissanite for the diamond look for around $460.