For your first board, you definitely don't have to spend much, and grabbing a used board with bindings is the way to go. Just make sure the board isn't too small/big for you, at your height/weight your going to want something between 153-158 generally.
Boots are a different story though, if you buy a shitty pair of boots, their shittyness is going to be reflected on your feet, as in your feet are going to ache all day long and make snowboarding a bitch and three-quarters. I suggest trying on boots before you buy them to make sure they are comfortable, rather then just going, "Hey, I'm street shoe size 9.5, these boots are 9.5, done deal". Boot sizes often don't translate strangely to shoe sizes, and some boots just don't work out with the shape of your feet.
Edit: That board sounds like it would be a good choice. Here's a 2007 version, it has some specs on probably what that board has: http://www.dogfunk.com/burton-tadashi-fuse-snowboard