Never raced in a suit before? You are in for a treat! Think: Cork Pajamas.

That's probably what I would do. I would feel that I got a good suit at a really good price. However, I personally don't think the $ invested in a high-end suit is worth it. Unlike the scientific data behind aero wheels, forks and bars on the bike, I know of no data that point out significant advantages of one wetsuit over another. My opinion is that a tri-specific full-wetsuit made of neoprene is more or less the same across the board. The differences come in play when you talk about fulls, halves, longjohns, two-piece, and how the suit fits. Also, considering that the swim is the shortest in both distance and time, and you will very rarely use your suit, monies spent on technology in the water have the lowest ROI. (For example: My Orca suit, four + years ago, used in one Half and two IMs = about $75 per use).

So with that in mind, you may rather go with the lower priced suit and spend the remaineder of your budget on a suit cleaning and repair kit (you'll need one), a squid lid and booties in case you ever do a really cold water swim (eg, Escape from Alcatraz).

Also, I like your idea of getting the suit well in advance. You will have several apportunities to train in it. And when I mean train in it, I mean a short indoor swim. You will be amazed at how hot you get in a pool+wetsuit combo. When you train in your suit for the first few times, the idea is to pay attention to how and where you need to modify the fit. Pay special attention to where the suit comes in contact with your neck, behind the knees, and shoulders. This is where the suit develops hotspots. And then plan on how you will alleviate the rubbing on these spots come race day. For example, I apply several strip of duct tap across my neck, almost all the way around, where the suits zips up on my neck. I have had horrible abrasions and racing with sunscreen and sweat was excrutiating.

My last bit of advice re: wetuits
1. They tear very easily. Be careful when putting it on.
2. Put it on correctly. The zipper goes in the back. I consider myself 'advanced' and I still put it on backwards ever time.
3. Look for tricks to help the feet and hands to slide through. I put my feet/hands in plastic Walmart bags. The plastic helps everything slide on better. I have seen spary-on non-stick cook spary used too, but I wouldn't want them imbedded in the suit.
4. It is innevitable that once you finally get the suit on, you will need to pee. It's OK to pee in the suit (that's why I don't recommend renting)
5. Suit arms and legs are made LONG so be cut to measure.
6. Duct tape and/or body glide is crucial.
7. Practice taking it off in a hurry. I don't think halfs typically 'rippers'.
8. Think about what you are going to wear under your suit. Some go speedo only and put bike shorts on in T1; some (me) go with cycle shorts from the start. But for the sake of the ripper, wear something. Shocker!

jsk85, same here. I'm doing 2 Olympics this year and have yet to get a wetsuit.
The Xterra sale is tempting...mighty tempting!

I don't think you will regret it either. I, too, just ordered an Xterra from their sale. It was too good to pass up. I talked to a good friend who is an experienced in triathlons and he agreed that I'd get more bang for my buck with the cheaper suit. No need to go expensive.

I picked up the sleveless Xterra suit at a race expo sale last year. After several HIMs and Olympic tris, I can't imagine that there's a much faster wetsuit out there. It really elevates your legs and hips into a good fast swimming position. It leaks in a small amt of water at the start of each race is my only complaint (maybe this is normal).