Hi there, Welcome back to the hobby
I was in the same boat as you just 18-24 months ago. Digging up the old models, tools, paints etc from storage and seeing what was left ! was a fairly nostalgic afternoon
Needless to say the vast majority of the paints I used to use were beyond usefulness and i binned a lot of them.
For new paints I went with citadels and got a small selection before they updated the line. Then I have expanded my collection with the new range, finding them quite good compared to the citadel's I remember using as a youngster. Not quite the same, but on the whole user friendly.
I usualy find that the paint set packages contain just enough colours that I wouldnt have picked to make them unworth it

I suggest hand picking a set, then seeing if the package deals can offer a saving.. if not.. oh well. (This could be true with any brand)
In terms of equipment, some good quality brushes are a boon! Windsor and Newton series 7 are a good but expensive choice, not break the bank.. only when compared to cheaper brushes.. which they outlast anyway. Other good choices are Rosemary & Co, Raphael, or any other artists kollinsky sable brush you can get a hold of in sizes 00 through 2 or 3. Kollinsky sable is not red sable, sable blend or any other kind of sable... its a specific type of hair from a siberian weaselish animal, is widely considered the best.
Tools you might already have... but if your needing new knifes, clippers, files, glue etc
GW stuff is good (except the glue) only really over priced! all necesary tools should be sourcable on ebay or local hardware stores or non
GW model shops... model trains? airfix specialst or something like that.
I woudl really reccomend gettign an airbrush if you can afford to, theyre brilliant and really useful.
Doesnt have to be a top end highly priced model to be useful for basecoating and basic highlighting of models.
Somethign with a 0.3 or 0.4mm nozzle, 2ml-5ml paint cup, gravity feed dual action airbrush with a small compressor (any... but a tank is preferable)
Another really useful product to own is a bottle of medium.. or a selection of medeiums.
Personally I like Liquitex branded ones, but theres a few, Golden and Windsor & Newton spring to mind.
The liquitex range includes;
Matte medium - a semi transparent matte finish colourless paint
Ultramatte medium - An opaque colourless matt finish
Gloss medium - semi transparent glossy finish
glazing medium - fully transparent(ish) glossy finish
Slow dry - increases working time of paints for wet blending
texture gels - textured acrylic binder with no colour (like citadels new texture paints... without colour and a selection of textures)
Airbrushing medium - Low viscosity acrylic binder for thinning paint out to spray
All of these are to be mixed with acrylic colours (any brand) to change and tailor their effects for a wider range of possibilities.
Primers,
GW seem expensive, Army painter seem better for the high price point, I've had success with a few brands of automotive primers, test with sprues first if unsure
A development in modeling toolbox items since your used to build and paint might be Instant mold, aka oyumaru, which can be really useful for duplicating emblems, icons and odd one off little items with greenstuff in conversions. Just something that you may not be aware of yet that can be really useful
I think I've covered a fair few of the bases here

Goodluck with getting your new kit.