RE: setup for first time traditional
Most over the counter bows are rated at a 28" draw--most custom bows will be rated at the draw length you state.
A good bow will gain 2-3# per inch of draw, unless you go with a real heavyweight. I'd look for one no more than 40# at your draw, maybe even less. Even though it may not meet regulations for hunting weight, you need to get your shooting form and accuracy established before you go to a heavier bow. Think of it like you don't start a new rifle shooter, even a grown man, with a .300 Mag. If you plan to hunt just whitetail and smaller game, 45# will put an arrow clean through one.
State regs. vary--some may require the bow to be 45@28, another require 45@ your draw length, while another doesn't state a draw weight, but requires a shoot a bow that will cast an arrow a certain distance. Best check up on the regs where you plan to hunt to be sure.
Do some looking, you should be able to find a good used (and light draw weight) bow pretty cheap--I'd guess $100, maybe less.
Chad