If you can hold off buying new gear till March/April sales you can get much better stuff for your money. Maybe look for a decent used setup on Craig's List or Ebay to hold yourself over. 160's I would say are too long, go for 153-158 at your weight. I'm about 210 and ride in the 159-165 range.
What type of riding do you like (park/downhill?) Makes a big difference in the type of board that you will buy.