I´ve heard som amazing things done with Reason only but some kind of midimixer or some knobs to twist makes it better ´cause you can put yourself in the song.
If you are looking for hardware you nead a sampler (if you´re gonna be sampling) and a sequencer (either a sampler that has it built in (mpc,asr-10...) , a hardware one or a computor with a sequencerprogram) and something to record it to (tapedeck, computor or whatever).
For samplers you can look for old rackmount models like the Akai s950,
s1000,s2000 or an E-mu (I use the esi-4000 and really like it). There are others but I can´t remember them right now. More popular samplers cost more but you know what you get . Check out Akai MPC, Ensoniq EPS 16,EPS 16+ and Asr-10.
Check out Boss/Roland sp-303, sp-404 and sp-606 too.And Korg Es-1.
If you´re gonna be using synthsounds I don´t have a clue.
Check out
http://www.vintagesynth.com to read about the different samplers.
Hope it helped.