Scotty, you can do wonderful things with a minimum of supplies. You NEED a knife, a flat file, sandpaper, at least 3 paint brushes, an eye dropper and paint thinner (or 2 paint thinners if you use both acryl and enamel). Don't go all out on an airbrush. I've done some brush-painted kits that look better than some airbrushed ones.
So, until you're sure you want to get back into it, don't fork over all the money. My 2c.