Okay, here goes...
I think you are stuck with a NiMH or NiCD battery with this one. You can find them all over the interwebs like this one (about $45.00): http://www3.towerhobbies.com/cgi-bin/wti0001p?&I=LXSFS8&P=FR
Next, you need a charger that is a "peak type" charger. You will need one capable of charging NiMH at least. If you get bitten by the bug, you will want to get a faster car that will most likely be able to have a LiPo battery. If this might be the case, you might want to get a charger that can do LiPo as well. Such as (about $100.00): http://www3.towerhobbies.com/cgi-bin/wti0001p?&I=LXTCK1&P=ML
If you dont think you need such a capable charger, get one of these (About $40.00): http://www3.towerhobbies.com/cgi-bin/wti0001p?&I=LXTCJ8&P=ML
Finally, you need a radio to control it. I would recommend something simple for this car. However, if you get big time into this, now is the time to get a good radio. They make a huge difference when racing.
The good but cheap stuff would be this(about $70.00): http://www3.towerhobbies.com/cgi-bin/wti0001p?&I=LXENN0**&P=7
For race stuff, I would recommend this (about $160.00): http://www.horizonhobby.com/products/dx2s-dsm-2-ch-transmitter-and-receiver-SPM2121
If the kit has a clear lexan body (which I'm not sure) you paint the INSIDE of the body. If it is a harder plastic that is not clear, you paint the outside. You must use a hobby type paint like Pactra.
The chassis from Tamiya are fun to run, but NOT the fastest or most adjustable. This would be a good model to play around (especially indoors or on VERY smooth parking lots). The detail on the body should be excellent.
The reason to go with NiMH over NiCD is simple. NiCD is about 15 year old tech. The newer NiMH batteries last alot longer and are less prone to damage. DO NOT OVERCHARGE ANY BATTERIES. THEY BLOW UP! When they get warm while charging, pull them off the charger.
You can get everything you need to run this car used. Most racers cast off last years stuff for little to no cash. An older race radio, battery, and charger could be yours for free on up to $200.00.
If you are anywhere near the Pittsburgh area, I have stuff that you can have (except for a charger).
P.S. I have been racing on road and off road for over 20 years now. Up until this year, I was very competitive in 1/10th scale sedan racing in the NE U.S. This year I have focused on LeMons racing.
If you have any other questions, feel free to give me a shout!
Rob R.