The drifter guys are probably the best to ask this, but I'll see if i can help anyway.
Motors and ESCs. You wont need boost or anything for drifting, so I'd look at either the Speed Passion Cirtix Stock Club Race or the Novak Havoc Spec Combo. Something between 17.5 and 10.5 turn motor would be great, i use a havoc spec with a 10.5 in my drifter and its great. Maybe even too much power. These combos are cheap, $99 for the speed passion and $149 for the Novak.
Servo wise, I use a savox in my racer, and the stock kyosho one in my drifter, but I way prefer the Savox. I use a 1257TG which will set you back about $69.
Radio. Alot of people are using cheaper radios from flysky, like the GTb3 and the GT2. These will cost you about $35 and $15 respectively. Or you could go more upmarket and get something like a Spectrum DX3C, about $129. All include both radio and receiver.
Batteries. Definitely Lipo, but check here first:
Credit to Duster_360 for this link. It will explain all about lipo batteries.
I use a Turnigy Lipo from www.hobbyking.com
its a 2s 30c 5000mAh battery. And a hobby king charger. Battery was $27, charger was $35.
Always try and support your LHS, but for good web prices, checkout www.amainhobbies.com
for motors escs and servos and pretty much everything else, www.hobbyking.com
have really good prices on batteries and chargers, also do the GT3B and GT2 radio's.
Good luck and have fun