First you should determine what basic pieces you'll need; the types of bakeware that will cover the majority of your baking needs. Basics can include the following:
8- or 9-inch round cake pan- 8- or 9-inch square cake pan
9" x 13" cake pan- 9" pie pan
9" x 5" loaf pan12-cup muffin pan11" x 17" cookie (baking) sheet- 3-quart casserole dish
Cake pans, loaf pans and even cookie sheets will also be useful when baking certain breads, plus some of the above bakeware will cover pound cakes, main course meals and side dishes.
In addition to basic bakeware pieces you should also have some essential accessories on hand, such as mixing bowls, measuring spoons and cups, spatulas, wire cooling racks and parchment paper or a reusable silicone baking liner to place on baking sheets. Silicone liners are extremely versatile, don't require any greasing, allow for items to just slide off after baking and are very easy to clean.
To expand your bakeware assortment, many interesting items are available, such as bundt cake/tube pans, ramekins for custards and soufflés, tart/quiche and springform pans with removable bottoms for easy release and decorating, biscuit and popover pans, angel food cake pans and even pizza stones. If you think of it, it probably exists.
Bakeware comes in a variety of materials, so you need to determine what materials would best suit your needs. Here's what to look for:
ALUMINUM: An excellent heat distributor due to its high conductibility. Usually found sandwiched between other materials, such as stainless steel, tin or a non-stick coating.
STEEL/STAINLESS STEEL: Sturdy, reliable and easy to clean. Since it is not a great heat conductor it is usually enhanced with layers of a more conductible metal, such as aluminum or copper.
TINNED STEEL: Made from sheets of steel covered in a thin layer of tin, making it a good conductor of heat. Allows bakeware to heat slowly and evenly.
CAST IRON: Retains heat well and cooks evenly. Also found coated with a layer of enamel, making clean up a breeze.
OVENPROOF GLASS: Extremely versatile and dishwasher safe. Not the best heat conductor, but keeps food from over browning, and allows you to check your food's progress. Can go directly from the refrigerator or freezer to a microwave or preheated oven. You can prepare in it, bake in it, serve in it and store in it.
CERAMIC: Strong and durable, ceramic resists moisture absorption, odors and flavors. Great for delicate foods.
SILICONE: Flexible; allows for easy removal of baked items. Can be used in the oven, microwave and even the freezer. Rinses and wipes clean, is dishwasher safe and stores easily.
INSULATED: Made of two bonded layers of metal with a layer of air in between. The layer of air allows for even baking and browning without burning.
In general, the heavier the weight of a metal bakeware item, the better. Heavy gauges warp less, wear better and resist denting.
The coating of metal bakeware is important too. Non-stick makes the release of baked foods and clean up much easier. Lighter surfaces will brown baked items more evenly than darker surfaces, as the lighter surfaces reflect heat as opposed to absorbing it. You may need to reduce oven temperature for darker surfaces to avoid burning. Coatings for non-stick surfaces can be applied in one, two or three coats, and can be applied by spray, curtain, roller or coil methods.
http://www.wise4living.com/khcookware/bakeware.htm
http://www.bedbathandbeyond.com/sg_head.asp?order_num=-1&SGFN=sg_bakeware
http://www.epicurious.com/articlesguides/blogs/editor/2008/03/angel-food-cake.html?mbid=rss_epilog
http://www.av123forum.com/archive/index.php/t-11705.html
http://forums.egullet.org/index.php?showtopic=25717