haha! i noticed Daab was reading this thread, and was half way through a reply before thinking that he'd do a far better job, and there you go!!!!

nice one mate!
i'd follow whats been said, with the except of the racking cane, its just something else to sanitise and syphoning is a pain in the ass, where as with a pap on your fermenter, you just attach the sanitised hose, open the tap, and away you go! if your fermenter doesnt have one, you can buy them for less than a quid, and just drill a hole in the bucket to fit it.
if you've looked arround the net, you may have found a variety of different gadgets and tools and methods, but its really easy to make great beer with out these things. the starter kits are perfect to get you going, and will last ages. i've had my barrels for 5 years and they are fine.
when just getting into brewing, there is an initial outlay for stuff, but mostly its a one time purchase, like a capper or a keg. from there on in, its just the price of a kit, or ingredients. having said that though, i always find something else i need(read "want"....) but i always make great brews with the equipment i have.
good luck, and as he said, dnt be affraid to ask about anything, even if you think it might be stupid. :beer