DB is right, the class you want to shoot will really dictate the equipment options. You might check the classifieds here for used equipment to save yourself come money.
My suggestions for freestyle:
Sight: if you want new at a great price check out the Davis "The System" sights.
Rest: a spring steel blade/launcher rest might be a bit cheaper to get into than a good drop away and many think they work better.
Stab: This depends all on you and what feels right
Hip Quiver: Bohning makes a nice hip quiver that can be had fairly inexpensively
Arrows: I'm partial to Victory (obviously
). Looks like a 500 spine would work good for you and about a 26-27" arrow would work nice.