I just went through all this a year ago.
For a home shop, a "medium duty" torch setup like the Victor Journeyman is overkill. What you want is an "airline torch", which is a lightweight torch of the type that used to be used to weld aluminum airframes. These torches have the valves up ahead of the handle, which is very convenient.
Most airliner torches aren't made anymore, except for the excellent Smith AW1A torch and a couple other obscure ones. Unfortunately, you can usually only find this torch handle as part of an HVAC setup that includes the worthless little "burglar bottles" and regulators. That's ok, you don't need to use them.
The Smith AW1A has a cutting attachment available that turns it into a nice little cutting torch that will cut up to 6" thick. Cutting is an oxidation process. The acetylene or propane heats the metal to red hot, then when you squeeze the lever an abundance of oxygen is added to rapidly "rust" the steel. In theory, you could turn off the acetylene and just run pure oxygen after the reaction starts. All this to say, cutting doesn't use that much fuel gas, it uses lots of oxygen.
You need the following equipment:
1. Torch handle
2. Tips for what you want to do (I bought 5-6 welding tips in a range of sizes, a small heating "rosebud" tip, and the cutting attachment with the smallest tip I could get.)
3. The cutting attachment
4. Flashback arrestors and check valves for both the torch side and the regulator side of the hoses.
5. Regulators (one of the regulators with the HVAC set will work with larger bottles and one won't)
6. Hose
7. Sparker
8. Gas bottles
The little AW1A uses the smaller "B" size fittings. You can go to Tin Man Tech website and buy a length of his ultra flexible black twin hose and adapters. Put the regulators and a 25' or 50' length of standar sized "twin hose" on the larger bottles and buy adapters from TM Tech to adapt down to the small gauge hose that connects to small B size flashback arrestors that you connect to the torch body.
Acetylene is more expensive than propane, but you can weld with it. The reason for this is that when it burns, acetylene produces a plume of CO2 that acts as a shielding gas. Propane doesn't do this. Get acetylene so you can weld with it if you want to. Gas welding is super fun. You won't use it much, so get the acetylene setup.
Acetylene is some dangerous ****. And so is oxygen. NEVER transport these bottles in an enclosed vehicle like a trunk or van. ALWAYS use the valve covers unless they are chained to a wall or a properly sturdy torch cart. Don't be careless with this stuff.
Watch the Steve Bleile video on YouTube about gas welding that has a good safety how to on torch operation.
All in you're $500-600 for all the stuff new, plus bottles and gas. I bought off zori on a flash sale.
Try Airgas. They will sell you anything and have always been great to work with.
Hope this helps.
Jim