Desmondo,
I guess firstly it depends on what you intend to do on a board, if like me you just ride the thing and are no half-pipe demon etc, you'll need a free ride board, and vice versa if you're after a board for the parks etc you'll need a board suitable for that.
Another thing is how big your feet are, most are suited up to about a size 10 foot, but there are one or two which will cater for bigger, Palmer spring to mind on that one, you can get round this by putting some risers between your board and bindings, which basically lift your feet up and put some space between the snow and your tootsies.
Brand wise, well there are quite a few obviously, but the biggest of the lot is Burton (not necessarily the best), Palmer, K2, Ride, Option, Nitro, Salomon, most of which are much of a muchness, and most are a bit like Ducati, small updates each year, but new graphics, and the must have 05 model etc.
If you know what size you need then grab a brochure from somewhere like snow and rock, the snowboard asylum etc and see what's available in your size range, this is dependent on what board type you want (see above), riding ability and weight/height etc. I've got a Palmer honeycircle 3, pretty light, looks like carbon
, but I am on my second one, my first delaminated under warranty, and I know of another that did the same when in Canada, so dunno if that was just a duff batch, or a common problem though.
Binding wise, well there's a few different systems, the standard binding type, which uses a rachet to strap up, Burton also do a strap up, cap system, compatible with a few boots, the "flow" system, which you setup once, set it and forget it, fiddly to set up though initially, heavier by quite a bit, but easier/faster to get in and out of. Step in's which don't seem too popular these days, these usually require specific boots, as the back of the boot is hard, and acts as part of the binding, the good points are they're light, quick to get in and out of, but the mechanism can freeze up during the day. I've got standard Burton Custom bindings, which work a treat.
Boot wise, again, kind of depends on the above, but soft binding (strap up type), you use a soft boot, with an inner and outer lining, the most important thing here is comfort, if they're not comfortable you'll be in agony within minutes (believe me). Most shops do a custom fit, what might seem really comfy in the shop (off the shelf) will be a nightmare on the slopes, so they can custom fit the soles etc, put heels in, mould to your feet. You need to be able to just lift your foot enough, not too much. Again I've got some Burtons, can't remember the name, but they were over £200, and I kept getting asked are they the such a such model, obviously I said yes with a smug face
I spent that much simply because they fit me perfectly, and they had the added bonus of a removable plastic tongue in the front, which transforms the boots flex from not much to quite a bit, so effectively 2 boots in one.
Other things you need to consider are waxing/edging etc, which isn't much probably 30 quid for a full service, but if you're going away for 2 weeks, and out every day it'll need doing once while your there.
As for buying second hand, all depends on if you're a fashion victim (Hmmm... the slut springs to mind here
) I'd be tempted to buy a board and bindings second hand, as long as it's in good nick, check the board for chips/dings etc (they'll be some) check the edges, and no signs of cracks/splitting, the bindings should be pretty much solid, just check for cracks/splits, operation etc of the rachets, these tend to wear a bit over time, you can buy new straps if you go down that route. But I'd buy new boots everytime, simply because you'd feel that more than anything.
If you get a chance and you're local to an Xscape - Milton Keynes/Castleford, they both have Snowboard Asylums, and they'll let you borrow boards/bindings etc so you can try them on the slope.
Lily bought my board and bindings for my birthday last year, and got a good deal on them as a package so something else to consider. Also depending on where you decide to go, the US is dirt cheap, my board was about £100 cheaper out there, and I think the exchange rate is better than it was last year, so even more savings to be had.
HTH