How about the lawyer's answer... it depends...
upon your power source(s), track wiring, block control, accessory control.
The simplest combination for Lionel equipment is a 6-32930, a ZW-C with 2 180watt Powerhouses and a 6-14295 Legacy Command set #990.
This equipment will provide you with the ability to run Conventionally, TMCC, and Legacy equipment.
Watch this Lionel video to get an understanding, that will provide a basis for your understanding. Fast forward to around 16:00 to get the operation of applying power to the track to operate conventionally or in command.
After that, it can get muddy. How do you want to control loops, blocks, accessories, switches?
How can you operate your MTH trains?
Those warrant individual discussions.
Two pieces of equipment (mentioned above) will get you going with Lionel. Also, they have introduced the ZW-L to replace the ZW-C.
Utilizing any power equipment you have will necessitate purchasing more Lionel equipment like Powermasters, TPC's etc.
I thought I'd give you a starting point. Another forumite can provide further knowledge of going from DCS to Legacy and making the two co-exist happily. I don't have any experience in that area.