ThePresence, it all depends on your fitness goals. What do you want to do? Get big like Hulk Hogan? Run like the wind? It will make a difference on how you should start out your workout regime. If you just want to get generally fit, there are plenty of calisthenics that you could do without buying any expensive and potentially dust collecting equipment. If you want to build your physique there is no substitute for free weights, a good workout partner, and membership at a good gym. If you are set on getting some equipment and doing light workouts at home I would recommend an inclinable/declinable flat bench, a pull up bar, and some basic dumbbells. Less expensive and better results than any trendy infomercial brand stuff.
Oh yeah, and Chuck Norris rulz!