Hi,
I used to race the m03 at my local club up until recently. There great fun and would be pretty good to start with. Electrics wise if your using the kit silver can motor any half decent esc should be fine. I used both a lrp v7.1 and the kit tamiya teu-101bk speed controllers and found no noticeable difference. And with cells like Rogerm said NiMh packs are worth getting. Radio gear wise pretty much anything works but its worth getting something you find comfortable to drive with obviously,
Good luck
