In 1996 I started out with a Colt 1911 Enhanced that I worked over with some machine shop buddies of mine. I got to C class quick and started taking it serious so I moved up to an SVI .40 with the full dustcover and used that to get to A class limited.
Little while later I switched to Open and ran a Caspian .38 Super. Eventually I had to move for work and my shooting dropped way off and so I sold all my competition stuff. Few times a year I would get out and run production with either an XD in 9mm or a Glock.
One thing I learned over the years is don't re-invent the wheel. For production class get a Glock/XD, kydex holster, good belt, six to eight mags and all the ammo you can possibly afford. For limited buy an STI .40 in the configuration you like (long dustcover/ standard dustcover whatever) If you go Open you are lost anyway so just enjoy the journey.
When I started IPSC to really have any shot at being competitive you had to load your own ammo and spend some real time on the gun. I did all that in spades and eventually burned out. Now I have just as much fun with a stock 9mm and some kydex as I did with a .38 Super and all the space gear.
I rarely shoot matches anymore because I find that as I get older my tolerance for standing around for four to five hours to shoot 100 rounds over four or five stages as reached a low point. IPSC is still in my heart though. You wont find a better community of people or a better way to improve your gun handling skills.
The best reference for all things IPSC/USPSA/3 Gun is here
Brian Enos's Forums... Maku mozo!
I tell everyone now to just go get a plastic gun and have a blast.