Tough question!
What did you like about the gym? What did you dislike? Are you a self starter? Did you enjoy group classes or meeting new friends? Do you have the space for the equipment you will need?Do you know anyone who has the weight equipment you plan to purchase? Do they like it? More importantly, do they use it?
Personally, if this is your first piece of equipment, I would recommend a good bench and a set of powerblocks. You can do quite a lot with that and it doesn't take much room.I currently have a Body Solid Pro Smith gym, a set of powerblocks, and an elliptical trainer. I have given away the semi recumbant bike, the stepper, the "health rider" and the treadmill. Warning here - just because I have this stuff doesn't mean I use it - although I am planning to start again. For a lot of people, exercise equipment makes it into the house with all good intentions. A month or so later it becomes a very expensive, sort of odd place to hang your extra clothes. A year later it makes it out to the garage and the following year makes it to the next garage sale. Check out any "used sporting goods" type stores you may have in your area - you can get some really good buys on stuff there.