ok.. I'll chime in..
but first I'll have to ask you what you are looking to get out of it... if its just casual intrest in a martial art... maybe its not for you...
yes.. its very fun and physical but as said above... equipment costs can be high... but do not think that you will buy that stuff right away... most of the time you will be loaned equipment or you can buy used stuff from the school for much cheaper...you can join most schools with just a pair of sweatpants and a shirt... you will only purchase new equipment when you find out you love it and will invest serious time and money to continue pursuing it.
but if you have a seriouse intrest in learning it... then by all means go ahead and try it... observe a class or two and see what you think... its a great workout and very physical... and lots and lots of fun.... I dunno why the guy below loathed it but... to each his own I guess..
one point I should mention because you are asking this in a mma forum... its very combat oriented in that it will teach you excellent timing and distanceing skills as well as movement and evasion and countering techniques... BUT... only within the art itself...
their are limitations as it is a sport... there are only 9, legal target areas... there are no attacks to the legs and no grappling or striking within this art... so for me, one who practices kenjutsu, the combative roots of kendo, this "target system" can be very annoying... as I always want to strike the legs or come in close and use my hilt to throw or hit them and I can't...
kinda like being a muay thai fighter and fighting in a boxing only match.... for me its fun within the framework... but not very realstic or combat viable for me.
anyway... I hoped I helped in some way in making your decision..
Best,
Kokoro