I will second that a fiber optic sight is a must have. You should be able to get one for about $35

You do not need to spend a lot of money. People killed a lot of deer before Bowtech came along. The new technology is nice, but bowhunting is about handicapping yourself, otherwise you'd use a gun. You get to spend more time afield.

I recommend carbon arrows, because they are much more durable than aluminum. Cost more, but they are a better buy. I also like a block type target better than a bag type. My bow blows right through the bag. For broadheads, You can't go wrong with Muzzy, and I think Magnus stingers would be great too. No matter what, they should be sharp.

So to sum up, dont skimp on the arrows, or target, or broadheads.

If you get a release, get one that fits, but don't be afraid to shoot with fingers if your bow will work that way.

I have the target, like I said we bought my son a 3D Deer last year, its one of those 6pt bucks that you mount in the ground.. you get them at BPS or Academy.. we got this one at Academy... That is a good target right?

Thanks for the sight tips, I was wondering what people really thought of the fiber optic sights, I've never shot with a release but I think I'm going to get one to learn. From what I've read I need to get my carbon arrows from a proshop and have them custom cut right? what the price of an average carbon arrow8-10$ each? I was thinking 3 for hunting and 3 for target shooting right? Same for my son, but custom cut to fit his bow?

you are going to lose arrows alot. For the setup you have now...go with cheap aluminum arrows...they will kill deer just as fast as 10$ a piece carbons. Get a new string and have a bow place just tune up your bow. Your best bet would be to go to a Pro Shop and have the guy there help you out and teach you a little bit of the basics as far as shooting/sighting in. Get a cheap fiber optic sight and a sting loop...with a release. Thats the best thing to have i believe. Buy yourself a nice blind that you both can fit in. This is important as well. Like somebody said before...theres alot of technology that has really brought bowhunting to its height...and its to the point where it can make your decision or break it. Working with old equiment isnt so much fun. I got my bow (Jennings Starmaster) which is a really friggen nice bow for 180$ with sights and everything off ebay. But for the time being...go to your Pro Shop and just ask for help.

I'd get to a pro shop and do it right. Make sure your bow fits you (draw length), your arrows fit your bow, etc. Is that an old steel cable job with a string attached via teardrop hooks? There's nothing wrong with shooting old bows, just make sure everything is checked out for safety. I shot an old bow like that too, after a long time away from shooting I bought something more modern back in 2003. Still using that bow. You won't believe the difference in technology until you shoot a modern bow. Anyway, good luck!

The biggest thing is making sure the bow fits you and that it's tuned correctly. Fiberoptic sights aren't a must, but they are nice. Same thing with drop away rests and carbon arrows.My father still shoots old XX75 Alum's out of his old Golden Eagle with metal pin sights and a simple prong style rest. It still kills deer. The key is making sure it all works together. Take your bow to the local pro-shop and have him check it over for saftey issues, make sure it fits you, have him square it up and see if he can give you some ideas for accessories for your specific bow.

Now let's say you made sure the bow fits and all that jazz. A few accessories I would recommend right off the bat for an older bow would be limb silencers (Limbsavers), string leaches, and a stabilizer. These really are good things to add for any bow, but especially on older noisier bows. Also, to help improve your accuracy, add a kisser button and a peep sight. This will help with consistency, increasing accuracy.

After that, practice practice practice. Practice from every concievable position you think you'll be shooting from in a hunt. If you think you're going to sit on a bucket flipped upside down - practice from shooting on a bucket. From a chair - practice from a chair, etc, etc, etc. Also practice on making your first shot count. Focus on making that first shot of every group or session perfect. Last is concentrate on keeping a consistent form. Have someone take pictures of you from several angles while practicing and post them up here. We have some awesome shooters on here who can give you a ton of good pointers for improving your form and accuracy.