For a good starter electric guitar, you can't go wrong with a Fender Strat. I think the new Mexican-made Strats run about $400. But you could find a good used one for probably close to half that price.
As far as amps go, a combo amp would probably be the way to go, particularly if you're playing small clubs, bars, etc. A good combo amp is a Fender Frontman 2x12, and it's only about $300.
If you're playing larger venues, you're probably gonna need some more serious gear, and that's gonna be more costly ($1000+) just for the amp.
Pedals? Believe it or not the Mark Tremonti wah pedal sounds great. A good cheap wah is an Ibanez Weeping demon. Or you could just go with the standard CryBaby Wah. Boss, Danelectro, Ibanez and ElectroHarmonix make good, decent-priced pedals.
Hope this helps you out!
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