is this good enough
or do I need this one.
also the cutting bits ?
-Never been a fan of the piston type but I've never had one I'd call high quality either. Have had or used several different types and I regard the piston type as just barely above the standard "lantern" type tool holders. For your first lathe, especially since it's a small one, the less expensive piston type in your first link should be good enough. The second link'd one is substantially more expensive and while I feel it would be a better holder it's not really worth the expense for your lathe. Either you won't get enough use out it (infrequent machining) or you'll get hooked on wanting a larger/better lathe and the tool holder will go with it. The money saved on the aluminum piston type can be spent on other tooling/measuring instruments you'll need. It gets more expensive every time you upgrade so spend your money wisely. The best of anything isn't required right now.
The tool holder post needs to be matched to the center height of the spindle or your cutting tool bit will either be above or below the center height of the spindle. This height relationship is crucial to doing any work on the lathe, (below for OD work/ above for ID work). The "lantern" style you adjust the height in the "dish", other post holders are adjusted either with shims (PITA) or via an adjusting screw at the dovetail or external adjusting screw like in the link'd example. There's a limited amount of height adjustment that can be done so that's why these QC tool holders are matched with the size of the lathe.
The aluminum piston type should be fine until you're wanting to step up to a better/larger lathe. For cutting bits I'd go with HSS over carbide. HSS can be resharpened with an ordinary grinder, carbide requires special Silicone Carbide wheels or a diamond wheel. Carbide is brittle and easily chipped/shattered from excessive vibration and bad cutting conditions. HSS is much tougher than carbide and won't chip/shatter like carbide. Shaping the cutter is often required certain operations, easily done with HSS but not so with carbide. Carbide is a throw away when the cutting edge is ruined. HSS renewal is a short trip to the grinding wheel. Far more value in HSS (IMO) for a small, vibration prone lathe. Carbide does cut at faster speeds than HSS but that doesn't make it a better choice. I have several other reasons for choosing HSS that involve tool geometry per material but that's just my opinion and others have their own opinion.
Your own opinion will come from reading all you can, asking questions, and your experience. Be safe, good luck, and congratulations on the purchase.