Cyras, welcome to the board. The SA outfit looks like a great way to get started and includes a DVD which might be helpful getting started. It's also a four piece rod which is very convenient for air travel and storing it out of sight in the car or truck.
Another outfit that is pretty decent is the LL Bean Quest, which includes rod reel, fly line, backing and leader and rod tube for 99 bucks, (it's a 2 piece rod).
Fly rods are designed to cast the weight of the fly line, and the size and wind resistant of the flies you throw help determine the "weight" you'd want. For trout a 5 weight is a typical choice. For smallmouth a 7 weight to throw larger flies is pretty typical. If you want something as an all "arounder" to fish mostly small streams (short casts) for both bass and trout and panfish you might want the 5/6 SA outfit or the Bean Quest 6 weight. If you were going to use it primarily for smallmouths, in medium to large rivers (requiring longer casts) the SA 7/8 or a Quest 7 would be a great choice because it will let you throw poppers, crayfish imitations and big streamers e bit easier than a lighter rod (5/6). It would also be a great choice for largemouth, and you can even use it for light saltwater for stuff like redfish, striped bass etc if you take occasional trips to the coast.
It's easy to spend a ton of money on gear, but these outfits will give you a lot of bang for the buck, and either would be a great choice to get started.
In the best of all worlds, it might be a good idea to call around to see if local fly shops sell the SA outfit (or something similar from Cortland for about the same money) as opposed to a big box store. Often guys in the local shop will take you out back and give you a couple of quick casting lessons to get you started and they're a great resource for some pointers on the local fishing. And if you let us know where you are located, some folks may have some suggestions for you on where to go, etc.
And since i always recommend looking into a fly fishing club to folks starting out since it's the best way to jump start your fly fishing career, (most offer group trips to local waters, casting clinics, informative meetings and you'll meet some new fishing buddies) you might want to look for local Trout Unlimited chapters or clubs affiliated with the Federation of Fly Fishers near you:
Council/Chapter Search | Trout Unlimited - Conserving coldwater fisheries
Locate a Club
Good luck, and keep asking questions as they come up.