You can get good nitro engines for cheap - a Losi 454 or Dynamite Big Red .28 for ex(or a Nova P5XLT for a buggy or truggy - under 200 bucks). The peripheral stuff can add up if you don't already have it - starter box or Rotostart, batteries, glow ignitors, etc etc.. And fuel.
I've seen a lot of ESC's going up in flames recently.. IMO high-power brushless is more dangerous. Unless you're throwing lit matches at your nitro fuel or something.. (and even then I see guys in the pits at nitro races tanking up etc.. with cigs hanging out of their mouths.. I've yet to see a nitro go up in flames...)