That set-up is a bit different than mine but it would probably work. Mine has uprights that hold the blank, the one you linked would hold it closer to the table. I'd recommend building one. I haven't done much work with wood and built mine with a circular saw in the garage. Like many others I followed these plans
. One thing I like about it is that the supports and thread tensioner are adjustable so you can get the rod supported where you need it and the thread lined up with the guide you're wrapping. If you make one, also build an extra support that is free standing at the same height at the others so you can get good support when wrapping the top guides. This can double as a support for your drying motor set-up if you make your own stands.
The other materials included look right though I would buy a sleeve of razor blades from Lowes/Home Depot. I'd also buy a bunch of extra brushes and mixing cups. You don't want to rush applying the finish on your thread wrap. You could use the list for the kit to order the supplies separately or buy a kit that doesn't come with the wrapper if you make your own. Mudhole sells other kits without the wrapper, also check out JS
Stockard, Acidrod, Cabelas for other suppliers.
Once you pick your blank/rod kit, I'd order some colors of thread. They are cheap and it's better than paying extra shipping later. It might be smart to get a rod building kit since it will come with all the parts you need. If you get a kit it might come with epoxy and finish, if it doesn't there are a number of options out there. For epoxy I use 5 Minute epoxy (attach reel seat and grip) and for finish on the thread wraps I use Bullard's Diamond II, though I'm sure others have recommendations.
It is a lot of fun, ask a lot of questions!