Great thread with lots of good advice. My feeling, like any others, is that it is all about the instructor. That said, learning from a good friend that teaches part-time or as a hobby may not be the best idea. I'!d consider a professional instructor that has taught many many students with experience in teaching other instructors and divemasters. The quality of experience and understanding of the industry will be on a much higher with a professional instructor. The is no substitute for experience.
Others might disagree, but I'd also suggest renting equipment for a while, even after your certs. See what other divers are using. Check out different masks; wetsuits all fit slightly different. Say after 10-20 dives(?), you can easily decide on a mask, fins, and wetsuit. Snorkel - I use the absolute cheapest model. Wait for BCD, computer, and regs., you might decide that you want to travel and purchase a lightweight BCD. Your perspective on diving and personal equipment will really change with time (20 vs 100 dives). With the money you save, go diving. The more time underwater, the more you will learn and appreciate good instructors, divemasters, boats/crew, and buddies.