Camera Equipment I prefer:
My current favorite full frame digital camera, the Nikon D700
With a camera this good you will need quality lenses. You simply can't economize here. Buy the best and you will have it for years and years. The camera will be out dated in a few years but these quality lenses will still be going strong 10 + years down the road. Yes, the prices are shockingly high but you get what you pay for. The plastic Nikon lenses are ok but I got tired of the mixed results. I got tired of soft and semi-soft, often distorted images and finally bit the bullet and bought these quality lenses. Now I get consistant quality results that are clearly superior. Even on the camera's monitor, you can see the difference.
Nikon 35mm f2
Nikon 50mm f1.8 : Cheap, light, very sharp .
Nikon 24-70mm f2.8 : Large, heavy, very sharp and very well built .
Nikon 70-200mm f2.8 : Evern larger and heavier but also very sharp and built tough.
Nikon 105mm f2.8 Micro : A great second lens to the 50mm.
Perhaps I should say I would only buy the pro-quality zoom lenses. Pretty much all of Nikon's prime lenses: 20mm, 24mm, 85mm, 180mm, etc. are all high quality performers.
Other great items:
Pocket Wizard radio slaves Pricey but again worth the price. If you're only doing studio stillife, or really on a budget, consider the $25 ebay stuff. It's ok.
Photek Softliter umbrella Cheap, beautiful soft light, can be used like a softbox or shoot through umbrella. Great 'strobist' item.
Lowel Uni-TO light stand Great portable light stands, perfect for your 'strobist' kit
Other Items I use; some items no longer made:
Mamiya 6 w/50mm lens. one of the most perfect cameras ever made. A street photographer's dream camera.
Leica MP. A work of art that happens to produce great images; at a (now) crazy expensive price.
Contax T2, So much better than any pocket digital camera made today.