Buy the first style helmet. The first has much better protective capabilities, and since you are just starting out you'll want as much protection as you can get. The helmet is one place where you really don't want to go cheap, not saying you need to get the most expensive one there is, but it's one place where cheaper often times isn't better. Personally I'd be looking to spend at least a hundred on a decent helmet, but I don't know how prices run where you are.
As for the rest of your protective equipment, leather is about the best stuff known to man when it comes to motorcycle crashes. That said don't run out to the nearest department store and buy the first leather jacket you see, for a leather riding jacket you need a good heavy weight leather made for riding. Also invest in a pair of chaps, they're worth it. I've never laid over a bike wearing chaps, but I have without and the extra protection would have been nice. The last suggestion I can give is full finger leather gloves, they will help keep you fingers warm, and protect them from road debris thrown up by other vehicles. During the summer you will get the urge to loose the jacket and just ride in a shirt, resist the urge, at least for the first year or so. Instead keep your eyes open for a textile riding jacket w/ armored padding, these can be mesh nylon, heavy weight denim. These have materials that were designed to take the impact of the road. I know I'm starting to sound expensive but you don't have to buy everything new (except for the helmet, always buy new helmets) a lot of riding gear can be found cheap at yard sales and flea markets. I've heard of friends buying brand new HD riding jackets for $10, and IIRC I paid $30 for my chaps and $10 or $15 for winter gloves at the local flea market. Also keep you eye on sales at the local riding motorcycle shops, I bought my $120 Mesh summer jacket for $80 on sale. Oh and also make sure you pick up a sturdy pair of over the ankle leather boots.
I'm not trying to sound like a mother hen or anything of that nature, I've just had a number of internet buddies recently go down and not get back up. I don't want to see another join them especially when you're just starting out.
On the other side of the table... Welcome to the 2 wheel club and have fun.
2003 Honda Shadow Sabre VT1100C2