A lot of online shops have that kit for around $60 - for that price, heck no. However, my local Walgreens has the kit for $30. I considered getting it but decided not to. For 30 bucks, it wouldn't be a bad deal. You'd learn a few new things, get a thumb tip and some pretty cool cards. Heck you may decide you like the cups and balls after that set and opt to go buy you some nicer ones.
The only thing I don't like about that set is the fact that Criss Angel's logo is plastered all over all the props.