Lighting needs depend alot on the type of plants desired. Keep in mind though that plants are like fish tanks....it just takes one to start the fever.
As far as substrate goes....again somewhat depends on the plants but for the most part go with what you like. Plant substrates are nice for several reasons- ease of planting (smaller diameter substrates tend to hold plants down better) and nutrients being the biggest. They are nice but not needed. Sand or gravel will work also. You will need to fertilize most likely either way.(again depending on plant needs)
Go with whatever looks best to you. Whichever substrate makes you most involved in the tank is the one that is best. You will tend to look at a tank that looks good to you more and you will be able to recognize any nutrient deficiencies, algae problems, etc. faster than one you just look at during feeding time.
Type of light depends on several things-
1. cost- The more light you put into a tank the more likely you will need the addition of Co2 (pressurized or another carbon source such as Flourish Excel) This can add to the cost ALOT- Pressurized Co2 would set you back at least a few hundred if you shop right.
2. How involved do you want to be with the tank? More light also increases the amount of care in terms of trimming and fertilizing. It also can increase your odds of algae because the balance between nutrients,light,and co2 can be tricky. When one of these is off can cause algae.
Ask your self if you want something easy to maintain with only small amounts of involvement or if you like research and challenges. You can do either! You dont have to spend a ton of money on a set up but some types of set ups will require more than others. (You can always add to the set up later but "upgrades" are more expensive than preplanning!)
I would go to
www.plantedtank.net as well as here at fishlore to look at galleries. Look at lots of tanks and see what type of plants and substrate you like. Notice how things are layed out in a tank... design is the funnest part! As you look at the tank try to notice what equipment is used and whether Co2 is used, what type of lights, etc.
Planted tanks are alot of fun, enjoy and make sure to post pics when you get going!
PS- sorry for the long post!
Best Wishes, Nate