Is this a good tank?

[missgingersnap]

I'm debating on buying a 48 gallon tall square shaped tank. It's 18x20 and 31 inches high. Does this limit the types of fish I can get since it isn't too wide but it is very tall? I'm going to put angel fish and maybe a couple blood parrots or any colourful cichlid that would get along with those two. Also maybe some kind of schooling fish. He wants $200 for the tank, stand, strip light, heater and filter. There is no lid though. I think this is a good deal but not sure since I'm very new at this...my first 10 gallon tank is still cycling. lol Any advice would be great. Thanks