My situation is bit different, I have traveled about 10 times with my board. I have a Dakine bag and it is well padded, but before I had a Burton bag that had no padding at all, it was just like a school backpack. I usually have two boards in the same bad and 2 sets of biddings(I carry my friends board too). Since its 2 boards I don't have the privilege of leaving the bindings on, I have to remove them, no way around that. I usually rap each board with towels and them I lay the larger board underneath and the smaller on top, with plenty of layers in between and even more protecting the sides of the boards (that way they never come in contact).
Then I put the on top of the smaller board with another layer to separate then, and plenty of clothes protecting the bindings. Just make sure you wrap the boards with a towel, on my second trip my board destroyed my favorite jacket, it cut it all and all the feathers came out(the hotel room was a mess
they were so pissed off, I felt so bad the cleaning lady was there for ever cleaning(I gave her a nice tip, she did a great job).
Also keep in mind that most airlines have 50lbs limit, but that will not be a problem for you, I have never been over the limit with 2 boards 4 bindings and cloths in there.
I would recommend to put the boots on a separate bag, that way if they loose one of the bags you don't have to rent boot, or vise versa the other way around. If they loose both then you're screwed. But they are usually good with those kind of bags