You may HAVE to spend $40K on upgrades to even travel with the ARC, they require a pretty good kit of safety gear and your boat will be subject to their inspections. I would certainly read up on their requirements before I spent too much on watermakers and such.
I believe they also require mandatory attendance at several prep sessions, and will want to see some credentials or CV of your sailing experience. I have also been told that they are looking seriously at having "their" boats transported through pirate territory, after this past years' debacle.
This is all 3rd party from a couple of coastal sailors who were quite disappointed in ARC's plans to make a safe event.
of course, YMMV