In any modern image manipulation environment, you NEEEEEED Photoshop. And I believe the Photoshop that's included in that bundle is the much more movie-adept version called Photoshop Extended.
It won't do editing for you, but it gives you Photoshop on movies. A Must Have ability.
Premiere seems to be an okay editor, while FCPX is really a stupendous evolution of Final Cut Express. For someone starting out, learning FCPX will get you future jobs while Premiere; not so much.
That said, After Effects is a wonder. The new Motion can do many of the same things, but it takes a different mental approach, and one that isn't quite as intuitive. Either one will be dauntingly capable for a beginner.
If I could buy the Adobe bundle at the price you quote, I'd do it. And I already have 12 years of Final Cut pro and now FCPX in my bag.
But if you want to get into the latest, if not yet the most complete, FCPX and Motion is plenty. But you'll still need to wrangle a student version of Photoshop. Preferably the Extended model.
Full disclosure:
I've written an eBook about Photoshop CS 5 Actions. Many of which work movie magic using Photoshop Extended. More on that, here: http://tinyurl.com/42vmwpt