It really depends on your preference. Personally, I am f2p and I still enjoy the aspects of the game, if anything being f2p forces you to be more creative and innovative with how you play and spend coupons. Others may like spending money to get ninjas or items faster, but eventually you'll get the same items if you play regularly, just takes longer.
As for events, Lucky Board is the best event for starting servers. I'm not sure about the ingot events though, but I suggest you invest your ingots in Monthly card and other high-return rebate deals.
I agree with this dude .. Everything he said in his first paragraph is true and acceptable .. 300$ to 400$ is such a big money and it is better to be invested in real-life things but hey, who am i to tell you what to do with your money so ..
If you really want to spend that much money, you better go and start playing on a Older Server, just like what RenjiAsuka said .. It doesn't matter if it is Newly Opened Server or Not, some new servers dies fast as 1 to 2 weeks from its opening and you may find yourself left behind .. But on the other hand, playing in older servers can give intimidating feelings since all players around you have big numbers of BP .. and you may find yourself being in a situation where you will feel like you're a Punching Bag of those monsters, but perseverance and patience will make you pass it :D ..
Best events, Lucky Board, Lucky Star, Treasure of the Sage, Myoboku Trial : Totem Hammer and of course, recharge when we have Recharging Rebate and spend when we have Spending Rebate or Fukurokumaru Deals ..
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