Equipment
"I'm not completely sure what type of equipment I want to use wether it be, vinyl, cd or mp3. I would probably prefer to have a vinyl or cd mixer as it means you have a hard copy of the song etc."
So you want hard copy of your music? Hope you love breaking your back hauling vinyl around, its heavy and after a few gigs the sound will begin to degrade due to needle ware, in my opinion new digital media is superior, just a suggestion, but get Serato Scratch Live and a couple of cheap decks, gonna set you back about 800, but you will have a great setup and your learning curve will be cut at least in half, you will be able to see what you are doing right or wrong right on screen. In fact, SSL is such a great tool for green djs that i would wholeheartedly suggest getting this piece of hardware no matter what. If the money is tight, save up and get it, its really that good
"I'm guessing that Vinyl would be the most command and is there limitations on what you can do with vinyl, cd and mp3? Which is the best all-round type of equipment to have?"
If there limitation on vilyn? you bet, there is just so much you can do, and for vinyl you need superior precision and control, while CD decks are somewhat more forgiving for beginners, wheels of steel are not. As for your question of all-around best type of equipment to buy, i would say the sky is the limit, you can spend as little as 300 to as much as 10000 on equipment, but i would suggest to start small and build up your studio as time goes on
"I'm open to alot of suggestions and I don't want to run straight out and buy the first thing I see, because 2-3 months down the line I might not like it, waste of money etc."
Well, if you are not sure already that 2-3 months down the road you will be interested, i would suggest finding someone with decks and trying it out first, believe me, you dont want to invest ANY money if you dont even have a clue and its all on a whim, and if you do, no reason to get the best stuff
Hope this helps a bit, i could suggest some more things but you need to explain a little better what you want to spin,
HOUSE?
TRANCE?
TECHNO?
believe it or not, all those genres require slightly different equipment, so as your taste changes (and it will) you will need to think what you want to do
Cheers,
Sasha Pidann