@twentyocho and other...I had the pleasure of attending last years. Based in what I learned, here are the best recommendations where to sink your money for the trip:
1. Warm sleeping bag
2. Good CB setup - lots of coms I missed out on last year with no exterior antenna
3. Good tires (one guy had a failure 20 mins into the first run last year)
4. Good camera and memory cards - but beware - while the scenery is amazing, first timers will get home to sort and realize many of them look the same.
5. Good headlamps for getting around camp at night
6. Place to put your trash. If you have a swing out tire carrier, invest I a trasharoo. I ran mine strapped to a crate I my roof... Thing is awesome.
There are showers and plenty of provisions in town. We made runs for gas on Saturday, but you don't want to top off given how it can mess with the charcoal canisters when ascending to 12k ft. You won't need any gas cans.
Be prepared for rain... Boots, ponchos, etc. heck, get an awning if you'd like. It poured the first night but was sunny until the last run on Sunday.
Don't haul firewood in.. Buy locally so you don't pick up hitchhiking insects, etc. there is a really nice store that had a ton in silverton which I highly recommend, along with True Grit Cafe right across the street from it.
We aired down Thursday AM and didn't air back up until Leaving town Sinday. There is a gas station on your way out of Telluride and air is free.
In the end, with 35 like minded folks, we will have enough tools to tear down, and enough parts to rebuild a 100 from scratch.
Just bring whatever you normally bring on the trail/camping, and you will be fine.
The guys did a really good job last year with their hit list like this, and sure they will do the same this year.