Short answer is : Yup.

Longer answer, there are several things in that combo I wouldn't bother with. Your #1 concern is the radio. I'd also go for the OS 46FX instead of the 40, or even the TT pro 46.
Things like foam, fuel tubing and glue, you might already have if you've done any modeling. 6 minute epoxy you don't need, use 30 minute on everything. That one TF wood prop will last you 5 mins, that's after you've spent an hour trying to balance it. Get a couple of APC's instead. Last but not least, I'd get an OS #8 plug instead of the TH one.... I think that covers it.
You could try building your own combo and see if they give you any savings...