I was attending Hotel School and was executive chef one summer at the Boulders Inn, in New Preston CT, so I bought a whole kit. During that summer of 1976, luminary guests included actors Paul Newman, Joanne Woodward and Richard Masur (One Day at a Time).
Anyway, back to knives. I have a whole chefs set of 8-10 Henckels 4 star no stain, all German made. They are good as new, nearly 40 years later. They hold an edge for a long time and have a lifetime warranty. Also, the steel will not discolor like a carbon knife, nor is it as brittle and hard as regular stainless.
Every few years, I send them out for a professional sharpening ($3-$5), but a steel and Zip Zap are all that are needed to keep them in shape. A set like that would probably cost over $650 today.
If you only want to have one kitchen knife, I recommend a Japanese style Santoku knife with an 7" blade. I have a Wusthof from Germany, and a Henckels from China (about $20). Both are excellent for all chopping and slicing tasks, except meat off the bone.
Pots and pans, nothing beats copper clad Cuisinart stainless steel. Heats fast, gleams with Barkeepers Friend, and will also last a lifetime. Also, it will not discolor in the dishwasher like anodized aluminum.
Heatproof
silicon spatulas are great for non-stick cooking too.