Let me add my welcome to that of the guys. And I, too, highly recommend the ESV Study Bible Notes. A good study Bible is basically Bibie + single volume commentary. The ESV Study Bible is particularly good. I agree with Paul that having a nice collection of Bible versions is very valuable. When you see differences and track down what is behind them, you learn a lot.
At some point, probably sooner rather than later, you're going to want to buy up to the Bible Study Collection. That will give you more dictionaries, commentaries, and a whole bunch of Bible versions. There are only a couple of things I would add to it for the next couple of years: The Atlas (which I use more than the Timeline) and the NAS95 with Strong's Numbers Group. The entire Graphics Bundle is worth every penny you pay for it, and it's a better deal in the long run, but that it a lot to spend all at once. I ended up buying the modules one at a time, starting with the Atlas. If you can afford to get the Bundle, that is a better way to go.
The NASB/NAS95 continues to be my favorite Bible version. Every version falls down somewhere – they all have their warts. However, the NASB/NAS95 translators were particularly meticulous in 1) handling verb tenses, and 2) being consistent about translating the same original language word with the same English word when context allows.
The Christian sitting there with an English Bible in front of him ought to be able to tell that the same Greek word/word-group is behind the English he's reading. For instance, in Rom 7:7-8, covet/covet/covetousness (ESV) comes from the Greek words επιθυμια/επιθυμεω, noun/verb cognates. Most of the modern versions make this clear, but the KJV has lust/covet/concupiscence and the NKJV has covetousness/covet/evil desire. Even an English reader who knows some Greek should not have to go digging around to be able to see that in his English Bible, in my opinion. There are many places in the Scriptures, however, where most modern versions fail to be consistent - one of my pet peeves. I think the NAS95 is probably the best in this department, though it does not read as smoothly as the ESV.
One of the many things that was drummed into us by our professor in 2nd year Greek is that the imperfect tense ought not to be translated as a simple past without a good reason to do so. The result of lack of care with the imperfect can be seen in Acts 18:4-5 (read vss 1-6). The ESV is sloppy, with the transition between Paul's Sabbath-only preaching (v4) and full-time preaching (v5) obscured. The KJV is worse (v4 says the people were persuaded; v 6 makes it clear that they were not persuaded). The NASB/NAS95 handles the passage beautifully:
4 And he was reasoning in the synagogue every Sabbath and trying to persuade Jews and Greeks. 5 But when Silas and Timothy came down from Macedonia, Paul began devoting himself completely to the word, solemnly testifying to the Jews that Jesus was the Christ.
There are three different uses of the imperfect tense (underlined), all well-rendered in the NAS95.
- he was reasoning —> Paul was customarily preaching/reasoning on the Sabbath. It was his ongoing habit.
- trying to persuade —> Paul was attempting to persuade (but the persuasion was not complete - we learn in v6 that he was not successful).
- began devoting himself —> instead of only Sabbath preaching, Paul began to preach full-time (probably because a monetary gift from the Macedonian churches brought by Silas and Timothy made it possible for him to give up the tent-making).
Anyway, that's my sales pitch for owning a lot of Bible versions in general, and the NAS95 Group in particular! The more interpretive Bible versions, while not always faithful to the original languages, are useful as commentaries.
Unless you decide to take on an original language, you may not want to buy up to a larger collection, but just add modules piecemeal as need arises. (As Phil said, buying the Essential Collection may turn out to be the most economical way to get a couple of modules you want. I, too, really like the Tyndale Commentary series.) The forums are a great place to come to get advice regarding which resource best fits your need. The multi-volume commentaries are great, but can be very overwhelming and have too much detail for a relatively new Christian. And even for someone who has been saved for decades, there is often a desire for a short summary or quick geographical note instead of a 4000 word technical discussion of some obscure point.