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Ok, some things to consider. Metal: Gold vs. Platinum. Platinum is a lot more expensive, but it is also much stronger. How is she with her jewelry?
As far as diamonds, learn your 4 C's (Cut, Clarity, Color, Carat). Tiffany& Co. has a pamphlet which you can probably request online, but there are other sites and sources which discuss this information.
Not all women like a solitaire, some prefer a smaller center stone with side stones.
At $1500, you probably won't be able to get a platinum band (but I'm not certain). Consider spending more for the better metal and better diamonds. If you can swing it, $3000 can buy a nice ring.
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