Good Choice on the T4,

I recommend:

ESC/Motor: Novak Havok brushless system, it comes with an 8.5 motor, but it will soon be released with different motors. All for around $129-$139. I would recommend to start out with a 10.5 motor.

Servo: Get a metal geared servo, preferably a high speed, servo. Hitec has some nice $40 + metal gear servos.

Battery Pack: Definitely get a Lipo pack, anything over 4800 mah, should give you good running time and good power, for racing and bashing.

Radio: if you can afford it, get a programable radio from the get go, if you can, get a 2.4 mhz DSM radio, no need for crystals, or frequency changes. There are some out there that aren't too expensive.

Charger: get a lipo ready charger, THe Duratrax Onyx is a nice entry level lipo charger that can also charge Nimh/Nicd packs, and you don't need a power supply.