Hi Sean,
The new V12CE (circuit edition) contains all you need to be competitive retailing at £89.99. As for electronics, if you want to go BRCA legal, the Hobbywing 120A 1s esc is the most cost efficient and doesn't require you to run a booster for 1s lipo racing. 1s lipos are all pretty much the same price and 1 should be ok. You don't need anything special. Motor wise the Team powers 13.5 seems to be the most popular. I have found this motor to be very fast and easy to set up. For the servo I use the Futaba BLS551, this is a low profile model and provides plenty of space in the car whilst still providing ample speed and torque. You don't need a special charger either, just a charger capable of charging lipo. Hope this helps
Karl