That's the exact same kit I picked up to use as a QT. Yeah, the filter sucks, the heater sucks, the light is decent enough (although I'm not a fan of the blue LED's in general). It works fine for me since I only use it for a couple weeks at a time when quarantining new or ill fish.
The main problem with it is that the way the hood is cut there's no room for an upgraded filter. There's a small notch cut out which really only has room for the included filter and cords for heater, air line tubing, etc...with only an inch or two to spare on either side. I've got a couple spare HOB's sitting around and none will fit on the tank.
I agree that even though it sounds odd...the smaller a tank is the more important it is to have decent quality components since there's not as much room for error.
Personally I like buying everything individually since the chances are the longer you're in the hobby...the better stuff you're gonna want down the road anyway.
If money isn't an issue, like I said, it makes a great QT so it's worth keeping for that reason...but it's not a great full time display tank.
If that gives you an excuse to give to the spouse that a larger tank is easier to maintain...go for it
.
If space is the issue and a smaller tank is the only size you've got space for...I agree to buy items separately. Especially online where you can find the best prices.
Just a side note...but if you decide to return and re-buy, or purchase a new one in general...rimless is the way to go for smaller tanks IMO. I'm desperately trying to convince the wife that we need to upgrade our 5 gallon Fluval Chi Betta tank (also rimless technically) to a 11 gallon rimless aquarium. Check these out (again, this involves money not being the concern
).
http://www.greenleafaquariums.com/glass-rimless-aquariums.html