I've procured most of my stuff from
West Coast Shaving.
I started with (and am still using) the Merkur HD (34C) razor. It's generally a consensus that it's the best "starter" razor for folks because it's forgiving but will still lend itself to advanced technique.
Blades are purely personal. I got the small sampler pack (though I'd recommend the large one) from West Coast. I started at the beginning and worked my way up to more and more "aggressive" (read: sharp) blades and, as I mentioned earlier, have really settled into the Japanese Feathers. But like I said, it's all about *your specific* beard, your skin, and your technique -- the comination of these things will determine what blade works best for YOU. If you do the sampler, spend at least one week using each type of blade -- don't switch brands every other day. Oh ... and just skip the Merkur blades. They're trash.
As for cream, check out the forums and reviews over at B&B. There are so many good things out there that it's hard to recommend just one. As such, I'll recommend two.
1. Proraso shave cream: you can get this at Bath & Body Works locally under the "Bigelow" (sp?) brand, which is the USA import version. It's menthol and eucalyptus and is very soothing.
2. Taylor of Old Bond Street: it's the sh*t. Really. I've been using it 3-5 times a week since early-January and couldn't be happier. Yeah, it's a tad pricey ($14); but it's SOOOO worth it. I'm using Rose and it's nice -- scent is very light and refreshing.
I forgot to mention earlier that after I rinse (first with warm, then with cold water), I use Proraso Liquid Cream Aftershave. It's very soothing. The scent is mild and invigorating and goes away quickly (I'm very sensitive to perfumes and nothin I use is strong enough to bother me). Sometimes I'll use a Nivea Sensitive Skin Aftershave, which is nice too. I like the Proraso better, generally, though.