Great thread! So incredibly helpful to newbies, for sure.
That being said, after my first couple of OW dives post certification, I decided to take the plunge and buy gear. My training was completed on MK2/R295, which wasn't bad, although the mouthpiece was a problem for me, since I have a smaller mouth. We also had wrist computers provided to us for obtaining profiles in our OW certification dives. I didn't like that and ended up with some bad bruises on my lower arm as a result.
I also completed training using mostly rented gear from the LDS, as their policy is to not have you purchase a bunch of until you are sure you can certify. We had one gal in our NAUI pool class that had passed all of the PADI class work, but couldn't get her mask to clear to save her life, so she went through the equivalent of 2 water classes with 3 private training sessions, so this policy is particularly helpful for folks like her.
I took my time in picking out the various items I was seeking, but wanted to ensure I made wise decisions relating to what I will be able to use long-term in my diving life. I had inherited some dive gear from my Aunt who recently passed, so I saved on booties, since hers fit like a charm. Her fins, OTOH, were rather old-school, solid construction graphite Sherwoods, which, while functional, were quite cumbersome and tiring to use. I bought new fins as a result and will keep those as backup. After talking with fewer LDS sales folks, and more of the patrons who had purchased gear and shared similar aspirations, I settled on a MK25/S555. I did get a console computer, which on my first couple of dives has not been problematic. And my "LadyHawke" BC does have the Air2, and I have practiced using it...not ideal or as comfortable as an Octopus, but better than having another hose dangling on my 5'1" frame, methinks, and my goal is to minimize the necessity of its use anyway. I opted for shears instead of a knife, and bought a pretty good mesh dive bag. My LDS is very fair in their pricing and provided me with some nice freebies, such as a Scubapro regulator bag, a retractor for my console, and a few other "gadgets" like closed rings for my digital camera and items to go into my SAD kit.
Went on a river dive post-purchase of this gear and felt like I was in HEAVEN compared to the rental gear!
Thanks again for the info here though...just reiterates that everyone has different takes on what works and what doesn't.