First of all you have to ask yourself what your goals are in Diving. If you have aspiration of becoming a technical diver or doing deep/wreck diving then starting off with entry level gear may not be the best option; waiting to buy better gear may better serve you. If you are only interested in doing recreational diving then your options open up considerably.
I started off buying a Cressi MC9/Compact regulator set. It is a step above what you are considering but in the same range. It is a good regulator and I have had no cause for complaint. I moved away from it because I am pursuing much more demanding diving that this set just is not built for. Mares is a well respected manufacturer as well.
As others have said where you can get them serviced should be a question you ask. Cressi is probably a little harder to find shop that service, and Mares a lot easier since just about every SSI shop is a Mares dealer since the same parent company owns both.
As another alternative might I suggest either Deep6, DGX Deep6 or HOG gear. These are more boutique manufacturers that are not as large but offer very good quality gear. A quick search of SB, which is very tech diving oriented, will reveal a large fan base. I use a Deep 6 signature set now and very much like it. The goodness of boutique brands like these is they tend to be a lot less expensive than the major brands, the drawback is that you will generally have to mail them for service vice being able to take them to an LDS to service. They are worth your consideration.
DGX Custom - Deep Six DGX Streamlined OW Reg Package | Dive Gear Express®. This package is only 449 for the full regulator package, it is a package that Deep 6 makes for Dive Gear Express
Deep 6 Gear Deep 6 can be just as inexpensive if you select the scribble vs signature series.
HOG can be found at lots of different dealers online.
