Hi Robert,
to IIS, mate.
The 114mm reflector in all its configurations has been the beginners work-horse for many, many years. Unfortunately, most beginners never progress very far because of both awkardness in using an equatorial mount for first-timers, and the typically poor quality of these mounts.
Regardless of your choice of scope, reflector or refractor, I would suggest mounting the scope preferrably on an alt-azimuth mount, which is the simple up-and-down an swing-around movement. I feel this style of mount makes for a scope that will be used more often.
Unless you intend to undertake astrophotography, I would steer away from inferior quality small equatorial mounts. And if photography is your thing, there are better scopes for this purpose than this model scope. Typically these mirrors are spherical in shape, rather than parabolic, which creates focusing problems, espcially if the f/ratio of the scope is f/6 or faster.
Leons recommendation of refractor is excellent. I would suggest a 6" or 8" dobsonian mounted reflector. Might cost a little more, but I guarantee it WILL be used more than this equatorial set-up. Bintel, York Optical and Andrews Communications offer these refractor and reflectors. If you can, see if you can get to their store's if you can to check them out.
Mental.