I think you should go for it. That's the way I started. Read up on these forums and PM me if you have any questions or problems you can't get around. There are a lot of cool people on here willing to help, and they'll save you a lot of money as well!
Good luck and let me know if you have any issues along the way.
125 gal. reef w sump/refugium & 8-bulb 640w T5's
45 gal fresh w/plants + CPF lighting