If you're interested in club level racing get any gear you still possess, check it out to see if it works and head to your nearest club. All model racers are approachable, amenable and quick to offer advice. If you race what is most common at your local club, help and 'borrowing' spares is always easier - second hand equipment is often available if you ask around too.
The way forward today is brushless motors and Li-po cells, 2.4 GHz radio is a good idea if your budget allows. If you still have working gear just go and play. Chargers have come on in leaps and bounds - far more capable, and easier to use than the old fashioned resistive type with a clockwork timer.
A visit to your local model shop wouldn't go amiss - advice is usually given freely and hopefully unbiased (depending upon their current stock levels of course). at least there you should be able to have a play with everything and get an idea of costs of modern equipment.
Don't sit on the fence, get stuck in, it's a great hobby!
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