Yeah, it's your choice obviously, but I think it'd be a shame if you did. There's a certain cameradery among ballers that you don't see in a lot of other sports. Yes, 500 quid is a lot of money, but it's just a one off. After you got your gear, you're good to go!
Besides, like Onion said, there's second hands that'll save you money.
Also, I gather you live in the UK? Why don't you go down to one of the UK paintball stores, and get your stuff there? No shipping involved, plus loads of friendly, knowledgeable, and above all helpfull staff to get you sorted. In the UK you got some of the best stores in the world! Like SmartParts, WDP, and Planet, go check them out.
The choice is yours mate, but I guarantee you, it ain't that easy to give up. Once bitten by the bug, that's it!