I started on an EX-500. It was the perfect first bike. Cheap, reliable, quick but not too fast.
That being said, I still wish to this day I had started on an SV650. I never would have had to sell it.
As far as gear goes, Justin has the right idea. If I had bought quality products from riders discount when I started, I wouldn't be replacing it now.
Class saved my life, and i recommend it to anyone who will listen.
Keep the the rubber side down!