As Doenut said, the antenna is the most important part of your setup so be sure to do your research and given that the price difference between low end and high end is not that much (maybe $100 for an 8'antenna) , seriously consider the higher end. That's not to say that a cheap radio is a good thing. Standard horizon are great, I'd recommend a model that has a distress feature that allows you to press one button to send your coordinates to the Coast t Guard. It's something that you may rely on to save your life so it's well worth every penny.

Also second checking the expiration date on the flares. They don't seem to have a very long shelf life so be sure to check the date to make sure they're not already expired or nearly there. Get those in - store instead of online to avoid getting a bad set. Any bait shop, West Marine and even Wal Mart will have them.