Beginner equipment recommendations?

[Chadwick]

I am currently doing a lot of research regarding SCUBA and would like your opinions regarding a good set of mid-range starting equipment. I plan to dive in both the local lakes and warmer waters like Cozemel, Bonaire, etc... I am very new to SCUBA so I am not sure what specialties will pique my interest at this time, though cavern and wreck diving seem interesting.
I would also like to hear equipment/hype/fads I should stay away from. Reasons would be immenseley helpful. For instance...Split fins; great for straight shots, but due to 'vortex' action, they kick up a lot of silt and crud so they are poor for local lake diving and caverns, etc.
In a former life I was a lifeguard, swam competitively and grew up on a lake.
I understand what works for one person may not be right for another so please try to keep that in mind.