At one level you really cannot do wrong. However, it may drive you to tears
You may find the EQ1 mount a little light, the finder (5x24) unusable, the counterweights inadequate and the setting circles useless.
You can spend a bit to make it considerably better, but you might be better off putting the money aside for something less irritating.
You are likely to need some basic collimating tools (a combination cheshire will be fine).
Of the issues noted you can just drop the finder in the bin and get a Rigel Quick finder which is likely to be a much better bet. You might also find you want the cheap clock drive. It is certainly fun to learn the EQ system with all its advantages and dis-advantages.
There are some reviews of basically the same mount in that section.
regards and good hunting