Oh, you will grow out of that scope in about a week. Honestly, all it is really good for is looking at the Moon and some of the much brighter clusters. And an EQ mount, pardon the expression, sucks big time when it comes to tracking down objects. You have to zig zag to everything. EQ mounts also have to be aligned to the South Celestial pole first before using.
Almost everyone here on the forum will recommend a Dobsonian mounted reflector as a first scope. They are intuitive to use, you just plonk it on the ground and away you go.
To easy.
I know that "shiny and new" has it's appeal, but for value, and aperture, please consider in investing in a good quality used scope.
Depending on where you live, there is a suitable one available now. If you don't mind spending $100 more.
http://www.iceinspace.com.au/forum/s...ad.php?t=94746
If you are super keen on buying new, check out what the other dealers have on offer.
http://www.bintel.com.au/Telescopes/...3/catmenu.aspx
http://andrewscom.com.au/site-section-10.htm
http://www.myastroshop.com.au/products/dob.asp