If you wanted to get the whole lot - jump ringer, flexshaft, mandrels, tumbler etc, you're looking at a couple or three hundred pounds. You can get it down to about £150 if you already have a dremel and get a kk, but it's still quite an investment, and you need to be pretty sure it's what you want to do! A tumbler is a must have if you are bulk cutting rings.
However, you can get a perfectly good jewellers saw and a pack of 144 blades for under a tenner on ebay, use knitting needles as mandrels and hand cut your rings - I did it this way for quite a while - though I did end up buying rings for anything I needed to do in a hurry! You can get away with hand filing sawn rings too, though a tumbler makes a big difference both to the rings (polishing and hardening them) and to polishing the finished piece as well.
Pliers are another investment I'm afraid. You can use a mid-range set (beadsmith ergonomic, beadstrom etc) quite happily for a long time - though you may want some tool magic or plasti-dip to coat them. If you're going to do a lot of wirework, though, you'll probably end up wanting to get some Lindstroms or Swanstroms. Again, these are not cheap (at least £30 a pair), though you can save a bit if you import them from the US.
As for metals - I'd start by learning everything you can with copper. A fraction of the price and very easy to learn with.
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is a great source for bulk copper wire.
hth
george 