Ice Fishing basics / gear / etc.. help a brotha out!

[shawarma]

I'm leaning towards doing some ice fishing this year and with that comes, you guessed it, gear that i need which i don't have. I've never ice fished before.

I can search the web, and i will, but from seasoned ice fishermen/women like yourselves.. what equipment do i need and is a must have? If there are some "nice to haves" that you can't live without.. throw those in there as well.

I'd rather start my purchasing of equipment now gradually then wait until the day before.