The Sega Master System is a very affordable Console to get started with, due to it's widespread availability. You'll often find them at Car Boot Sales and on Ebay from between £5 and £15 for a basic set up. I'd personally recommend buying a Master System 1 rather than a Master System 2 as the Master System 1 allows you to play the games that came on a card instead of on cartridge.  Also, the console itself is aesthetically more appealing and also includes a pause button which was done away with on the remodelled Master System 2.

Recommended Master System Hardware

• The Master System itself
• A Power Supply
• An aerial lead
• Two pads, as there are plenty of excellent two-player games
• Optional extras to consider would be the Sega Light Phaser which supports a number of great games including Rambo III and Rescue Mission.  Also, the 3D glasses are well worth getting if you can pick them up cheaply - a number of games support them, including Out Run 3D, Zaxxon 3D and Line of Fire.

Personal Game Recommendations

RPG - Wonder Boy III - The Dragon's Trap, Golvellius
Sports - California Games, Golfamania
Platform - Psycho Fox
Shoot-em-up - Fantasy Zone I & II