You're making the assumption it will last a year, and actually work. If you're only using it two or three days a year, you might be OK. You're also assuming the specs are accurate. A 2-pound bag will only be warm to 20 degrees if it's 800 or higher fill power down - My Western Mountaineering Alpinlite is a true 20-degree bag and weighs 2 pounds - and costs $500+. No way will an Ozark Trail bag equal that for $40. I'd bet it's more like a 40-50 degree bag, if you're lucky. And, since their stuff does tend to sacrifice weight and compactability to save money, the 45 liter pack won't be anywhere near large enough - think 70-80 liters. If you use this gear for a year, you won't figure out what you really want - you'll just come to one of two conclusions: "I don't want to backpack; it's uncomfortable, cold, and no fun" or "Anyhting has to be better than this junk."
Personally, I think you'd be better off taking the same amount of money you'd spend on such cheap junk, go to REI or your local outfitter, and rent a good quality tent, pack, sleeping bag, and pad and, if possible, stove. One or two weekends with decent gear and you'll quickly figure out what you really want. (If you can't rent a stove, try to borrow one from someone; if that doesn't work, buy a Snow Peak Gigapower or MSR Pocket Rocket - both are good three-season stoves, each costs $40, and either one will give you years of trouble-free use.)