Have you tried the sport yet? Otherwise I'd say rent first just in case you don't like it. Any cheap board will be ok for learning on, 5150 is a good start for cheap. Get some forgiving boots, any lower end boots are good for learning just stay away from ultra stiff boots till you're ready. It's personal preference on how they fit your foot, no one can tell you what you should wear as far as boots go, just go to a shop and try a bunch on. General rule, toes should be just lightly touching the ends, no cramping though.
For bindings there's tons of reasonable cost bindings and good deals on those, find some in your price range and people can probably give you more info on if they're crap or not.