Which brand/model is that?
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I'm sure you'd get arguments on both sides of that one. The Merkur HD (and similar) is sort of the 'gold standard' I think. They're nice and weighty and have excellent construction.
When it comes to blades they are so many the best thing is to get sampler packs (most only shops offer them) and try a bunch out. Your face will like some and not others. Lots of good brands to try at the link below.
I like Feather blades myself.
As a person who grew up using Gillette Blue Blades, I would NEVER go back to a single blade. Reasons: 1) not as comfortable; 2) not as close; 3) the blade didn't last very long, and, 4) the single edge blade would yield many more nicks and cuts.
For many years I used Shick Sensor razor blades, but recently found a new razor, the BiC Hybrid Advance Disposable Razor System. The BiC system is the best I have used, by far: 1) the shave is close and comfortable; 2) the razor's handle is light and maneuverable; 3) the heads are disposable and last 6-8 weeks or longer; and, 4) I can get more than a year of shaves for less than ten dollars.
As for the shaving cream, for years I used Noxema Medicated Shave Cream (http://www.youtube.com/watch?v=OM59nSkjEWU). My favorite was Wild Forest. But sometime in the late 80's I switched to Edge protective gel. I prefer Edge for sensitive skin with aloe (orange cap).