Lofton makes a decent bow. Sometimes the quality of the finish isn't so great, sometimes you are hard pressed to find any bow that's finished better. For $150 though, I'd be able to live with a few sanding marks.

For arrows, don't go by the standard Easton chart. It shows arrows way too stiff for traditional bows. Use Easton's Legacy chart instead. It's much more reasonable. Or, maybe even better, use Kelly's spine chart. http://www.arrowsbykelly.com/Spine_Charts.html