Mike--
So far as weapons are concerned, any vendor you go to is just going to be reselling blades and parts from various manufacturers. Not all vendors carry all makes of blades, so you'll need to 1)decide what blades you like best and 2)determine which vendor gives you the best value in terms of price and service.
The best price/durability for non-maraging blades is with Russian blades (Dinamo, Fleche, etc.). Leon Paul non-maraging blades will also stay in one piece a long time, but become quite mushy as they age. France Lames blades seem to be of inconsistent quality as of recent. Slightly higher up the scale, non-maraging blades from Uhlmann, Allstar, Priuer, and Blaise Freres (who actually make many of the blades that Uhlmann, Allstar, and Prieur sell) will be fine. The real leap in durability comes when you go to maraging blades-- they cost much more up front, but make up for it in their longevity. Once again, Russian blades offer good value for the money in maraging (I have a number of Vniti foil blades). Blaise Super Blue maraging blades (also sold under the Allstar and Uhlmann brand) are well-liked by many-- I've got a couple myself.
Beyond durability, most folks select their blades based upon their own preferences for weight, balance, and flexibility-- different brands and models will vary in these properties. It'll probably take some time before you figure out what you really like in a blade.
Grips are pretty much a matter of personal preference and how your hands are proportioned (though, as Dennis noted, a few folks view it as a question of True Religion

). The best thing to do so far as grips and blades are concerned is to try out a variety of blades and grips at the club for a bit to see what suits you best. Most folks will be glad to let you handle their weapons so you can get a feel for them. The one piece of advice I have on pistol grips is not to go for large, hand-filling grips-- smaller grips that leave some space to shift around in the hand as you manipulate the weapon with your fingers are what you want (again, the proportions of your own hand affect this). Make sure you maintain a very light hold on the grip, squeezing the fingers only as you make parries or other blade actions, and then immediately relaxing the hand.
So far as electric parts are concerned, your choices are French (Prieur, HPC, etc.) or German (Uhlmann, Allstar) points & wires-- they're not interchangeable for foil, so you'll want to choose one or the other. Basically, French are much cheaper (about 60% the price of German), but German are much more durable. Even if you go with German parts, electric points are still high maintenance items-- you'll want to get a few spare springs and screws (and tips for French points). Along the way other fencers will help you learn about electic weapon maintenance and repair (your club may have an armorer who will do equipment repair for members, but it's best to learn at least the basics yourself).
You also need to pay attention to what flavor of body cord is predominant in your club. German 2-prong is best, but of your club is standardised on bayonet you'll probably want to stick with that so you can borrow club weapons or cords if yours aren't working.
If your equipment is truly 'junky', the one item I might recommend you spend some money on is a mask-- it's the single most important piece of safety equipment you have. Have your current mask punch tested; if it won't pass, make a new one a top spending priority. The rules for competition also require a sewn-in bib on the mask.
-Dave Neevel