I don't know if you've gone to a local music shop and done some experimenting with guitars, but you may want to before you make your decision. It's a whole lot easier to learn, and you're a lot more likely to stick with it if you have a guitar that you like and that is comfortable for you.

As far as your question, I'd say that's an OK setup for an absolute beginner, as you progress, you're definitely going to want better gear, though.