I've been doing some extract w/steeping grain brews recently for a talk I'm giving at our brew club at the end of this month. I've been using RO water and the only negative effect has been a low steeping pH (roughly 4.6 on an American Stout

) which results in a lower efficiency (roughly 60% when I get 70+ on typical all grain beers). Going into my next extract experiment (an American pale ale) I intend to add 2-4 grams of gypsum to the boil (because the pH would be too high pre-malt additions to take up any minerals) to punch up the hop profile.
The really economical solution to your problem was mentioned earlier, buy a carbon block filter. Since you are not concerned with hitting a particular mash pH minerals should be less of a concern. Unless your water is really high in carbonates or sulfates (extremely high in sulfates--like 350ppm) I'd stick with the carbon block filter for economic extract brewing. Or, if it's easier for you, use RO water; I haven't had any problems.
more info:
http://www.howtobrew.com/section1/chapter4-2.html http://brewery.org/library/wchmprimer.html*edit: I just read that you use well water. If you have a water softener (which I know my family's well water does) that is going to strip out much of the needed calcium and magnesium from your water and replace it with sodium. If you're on well water with a water softener, best to just stick with RO.