Should I buy this home theater system?

[RaimiTrackRecords]

I've been looking everywhere for home theater systems where I live but I found only a couple of SONY that come in a box along with a BD Player, but everyone's been advising me not to get these because they have a poor life span and sound quality.
I was lucky to find an ad in the yellow pages of a guy who's selling a home theater composed of the following parts:

- Arcam Receiver AV50, Dolby Digital AC3 5,1
- Arcam Alpha 7 CD player
- Celestion 7MKII Front Speakers
- Celestion Sli "autoamplified" subwoofer
- Celestion aluminum rear speakers
- Speaker cables SONIC LINK AERO 200, UK
- Signal Cable RCA SONIC LINK PINK, UK

Needless to say I know practically nothing about a decent sound system, but I am looking for a sound system where I can listen to my CDs, LPs, watch my BD concerts and movies and SACDs and other DVD-A discs. I don't know of this actually meets everything I want, unfortunately the seller lives 18 hours from here and cannot test the system, so I have to make the buy online, but that's a different subject.
I live in South America where we speak spanish, and since I know almost nothing about sound systems I don't know if the translations are 100% correct, but please let me know if you need more information regarding these since the seller did leave tech specs such as ohms, impedance, speakers sensitivity and other specifications.

By the way, the seller is asking $1200, so consider this when informing me if it's worth it or not.

Thanks a lot in advance !!! You're really doing a solid for me here.