The equipment that comes with the Walmart kit tanks is nowhere near the quality of that Aquaclear equipment. That said, the filter that comes with the 32 gallon, although it is a great filter, is undersized for the tank IMO. I'd run the
AC 70 on it instead. Of course, that's no problem if you pick up a small
HOB filter to use along with the AC 50. I do think the price is high, but if that's a good deal for your area then that's the way it is. I'm lucky to live in an area where Craigslist deals are pretty good for aquariums sometimes, but I've lived in places where you can't get squat on CL as far as good deals on aquariums.
I can't find any info on their site about the light that is included in the kit. It seems to be a twin tube fixture, which would give you enough light for low light plants if you're interested in that. I doubt that you'll be able to control the bulbs independently; my old twin tube fixture had only one switch. There are fixtures that allow you to do that, but you'd have to upgrade to power compact or
HO T5 for that, which would be a big added expense.
As far as bulbs for the fixture, that's just a matter of preference. If you're wanting a planted tank, look for bulbs in the 6700K - 10000K range. If not, just use whatever appeals to you. The wattage is going to be the same on any bulb that fits in there, and it won't make much difference.