20 years as a type 1 and a bit over half that using a pump. IMHO, a pump is the way to go. The downsides of more expensive supplies and living with this little "pocket pancreas" more than outweights the flexibility and control you get.
As for riding, I use a belt clip on my pump and clip it to the waistband on my shorts. You probably have a choice of reducing your basal rates, or eating before, during,, and after your rides to compensate. Since I'm going to be eating more anyway, I chose the latter, eating as I go. I worked out a schedule by checking my BG right after rides of gradually increasing length until I got to the time/distance I was looking for. I think I have a stable situation now with a pack of peanutbutter crackers every 25km.
For for accessories I use a large Dia-Pak (available from most places that sell diabetic supplies) to carry my supplies, which includes a spare infusion set and reservoir. More than once I've had to change out an infusion set at work when one came loose during a lunchtime workout. A wide variety of cases, clips, holsters, etc... are available.
Be prepared to expriment to find out what works best for you. All the advice here and elsewhere is just a starting point, or something to try. This is a very individual condition, and we're all different. My biggest light-bulb moment with diabetes came when I realized that doctors cannot treat it. The *patient* has to do the treatment. The doctors, nurses, nutritionists, *ologists, BF posts, etc... all provide useful information and advice, but treatment is entirely in the hands of the patient.
While I'm here, let me suggest a couple of books I've found very helpful:
"Think Like a Pancreas: A User's Guide to Managing Diabetes with Insulin" by Gary Scheiner, ISBN: 1569244367
"Psyching out Diabetes: A Positive Approach to Your Negative Emotions" by Richard L. Rubin, June Biermann, Barbara Toohey, ISBN: 0737302585
I highly recommend both.