It is a starter product, that is fine if you never used a tablet to draw. (it's not a so automated process so you need to learn the right technique to draw with a tablet)
I think the price you paid is worth the product, usually the fact is refurbished doesn't matter so much with wacom, which imo is the best for tablet products.
Certainly, it is not a cintiq, but as said if you don't have experience and you don't want to spend the money for a intous (mid level) or a cintiq (pro level), a bamboo is the best choice.
Be sure to have patience because it really takes some time to get used with tablets...in any case it's just matter of time.
I suggest you to buy a wireless kit when you can, I dislike to have the cable on a tablet, but it's just a personal opinion; in addition i don't have idea how much they want for that kit.
edit: i checked, they want $40 for that kit....it seems very expensive to me. Get used with the cable!