Yeah, the Cabelas catalog doesn't keep ya very warm unless ya burn it.

I tried pasting those pages to myself but they weren't too warm.
Seriously though, like Van says, good boots are an essential. Once your feet get cold or wet, you're all done. As for the gear, you can spend as little or as much as you want. You can start with $5 tip-ups and go from there or you can go to companies like Frabill and get quite a bit more elaborate.
Don't spend a lot until you decide standing on ice is for you.