Sounds great for a beginner setup. Can't beat $100 - $150 for all that really. I say go for it and just save up for an upgrade in the near future. If anything you could resell that amp to some other noob for about the same price.
My first system was alot worse so I have no room to say anything bad //content.invisioncic.com/y282845/emoticons/tongue.gif.6130eb82179565f6db8d26d6001dcd24.gif