bowhunting is extremely addicting- theres your warning. Now, that being said welcome! you got a really good deal on that bow and setup.
Arrows- I would run not walk from walmart arrows. They are heavy and unpredictable. Not saying you can use them for rough sighting the bow in for just shooting in the back yard but when you getting ready for hunting season you need to fine tune everything on the bow with your hunting arrows. I personnally like victory arrows but they can be pricey. A good low cost alternatice is Gold Tips. They are not my favorite but they are a good arrow for the price. You will need to find out what arrows work best with that particular bow but I would personally try to stay on the light end.
Broad heads- Being your first year I would definatly recommend the muzzys. They don't have quite the cutting diameter as some of the expanables but they have a lot of bone crushing power if your shot strays a little into the shoulder
I practically live at a archery pro shop and i can tell you that you will want to get the bow timed and tuned at shop. They will find things and tune things that you don't even know are on the bow.
First and foremost please don't go into the woods until you are comfortable that you can make a clean kill at 30+ yards. I have seen too many people go into the woods before they are ready and wound deer after deer. Not saying that you will but please keep it in mind. I shot 3d shoots and back yard shoots for 2 years before I ever took a shot at a deer... and I missed
