^ this...you don't need all that high speed crap to get your dick wet...only if you want to really be competitive. substitute for the cheaper options Vizsadad mentioned and go out and have a good time the first few matches and buy the equipment when you KNOW you're going to like it.
I haven't competed in a match yet, but got out to 600 yards finally this past December with my M1A, M1 Garand and K31 at Talladega...hit the X-ring with my first shot out of the K31
all with a cotton USMC issue sling I got with my first M16 and a padded canvas rifle bag to keep my elbows off the ground during prone shooting.
long story short...i've been getting equipment as i plateau with the previous equipment purchase...learn to use EACH individual piece to improve your score until it's not improving anymore and then move on to the next piece. in the meantime you might run into something on sale too! the guys at the CMP matches are insistent that I use a jacket, but i'm just not there yet. until i can creep up on their scores there without it, i'm not going to spend $300 on a jacket that might actually harm my ability to shoot offhand when I go to qualify with the Marine Corps each year (obviously wouldn't be allowed to wear a jacket during qual).
for the meantime i'll train like i would fight...no fancy gear necessary.