Read these:
RGH Roadmap for noobs:
http://team-xecuter.com/forums/showthread.php?t=78885
RGH Hardware Suggestion Guide:
http://team-xecuter.com/forums/showthread.php?t=137209
Cool Runner Rev C install Guide:
http://team-xecuter.com/forums/forumdisplay.php?f=175
Slim Proto Install Guide:
http://team-xecuter.com/forums/showthread.php?t=139308
R-Jtag Install Guide:
http://team-xecuter.com/forums/showthread.php?t=135779
Demon Phat Install Guide:
http://team-xecuter.com/forums/showthread.php?t=88106
Demon Slim Install Guide:
http://team-xecuter.com/forums/showthread.php?t=88107
Demon Slim CaronaV1/V3/V5 guide:
http://team-xecuter.com/forums/showthread.php?t=97468
Nand X/Jr-Programmer install Guide:
http://team-xecuter.com/forums/showthread.php?t=84696
LTU2 Hitatchi install guide:
http://team-xecuter.com/forums/showthread.php?t=138385
LTU2 Liteon Install Guide:
http://team-xecuter.com/forums/showthread.php?t=138374 Works on 16d4s and 16d5s, the only difference is the firmware you flash to it.
LT3.0 phat liteon 16d2s Guide:
http://team-xecuter.com/forums/showthread.php?t=66257
If you get a phat console, which will be cheaper, if you flash the drive also, as no LTU board is needed, you will want to find a Jasper Revison motherboard(Least likely to get the red ring of death).Any will work except the xenon, but the jasper is the most reliable of the phat consoles. I would Suggest getting The R-Jtag Ultimate Kit(includes Jr-Programmer v2 and QSBs), a demon(Dual Nand device, and nand reader/writer. Makes upgrades and failed nand flashes easier to recover, and lets u keep the retail side of the console intact(Meaning you can hit a button and use as a normal xbox, and hit a button again and run all of your homebrew), That covers the homebrew part, as for CFW on the dvd Drive, you will need a X360USBPro and a CK3(Any revision will work, if u can find a X360USBPro V2 then the ck3 isnt needed) and a CK3 Probe V3.
If you get a slim console, and want dual nand stay away from 4GB caronaV2/V4/V6 consoles. I would suggest getting A slim Proto v2, a Slim Demon. If you want to be able to play burned discs then you will also need to get the X360USBpro and CK3(Or X360USBpro V2), and would recomend a LTU2 board, For the drive type in the console. If you have a 16d4s, depending on the chipset on the board, you could either Kamikazi it, or use the sputnik probe, but the LTU2 board is the best option for this.