Greetings,
I wish I had the following stuff right off the bat (for cold water diving):
Halcyon back plate, harness, and 35lb wing.
High quality shell dry suit (perhaps a TLS350).
Apex TX50 or TX100 regulator on a 7' hose -- 300 DIN.
Apex TX40 back up reg -- 300 DIN.
2 PST LP 95 tanks (or 104's) with Dive Rite, Scuba Pro, Sea Elite 300 DIN H-valves.
Jet fins with spring straps.
Low profile black skirted mask.
Edit: I would also add a Suunto Vyper to the list.
If you add all this up (including the dry suit) you're looking at $4500 (a warm water diver could easily save $2000 off this). However, there will virtually never be any upgrading of equipment in the future regardless of the type of diving you want to get into (which you don't even know about yet). You'll save a ton in the long run.
Good luck.
Mike
PS. Do me a favor, if you decide not to get all this, please copy this post of mine for future reference. I want to see someone else say "you know, I should have gotten that stuff I was told about by LY".