that kinda price is quite competetive, so your budget of 260 USD is fine for a non-cooled set up, but you WILL nedd to buy a good fan and ducts to go with it to keep it cool, what size is your grow room? that will dictate the kind of light/s you buy over anything else.

im not to sure about that kit your loking at TBH, the reflector is mirrored, which isnt good, you should look at a brushed/dimpled aluminium reflector for best spread and diffusion.
and the ballast looks pretty cheap...
if you lived in the UK, i would tell you to get this for a very simmilar price:http://www.aquaculture-hydroponics.c...productID=1390
i have the 400w version, it comes with a sylavania grolux wide spec HPS and its very good.....no need to swap bulbs...no stretching at all.

i would shop around a bit more, but you do need to budget for cooling, if you can stretch to it, get an enclosed or cooltube type reflector.

what sort of space are you growing in?