...Crap you're right. Sorry, when I played last, it was freakin' 70 dollars XD...120?! What is this madness!
But, you're still saving quite a bit. You get a rulebook (which is condensced, but they only left out painting guides and other such fivolity), which is $70 last I checked (could be more now), terminators which are $60, tactical squad is $45, Commander: $30 and a dreadnaught which is $55. for a grand total of $260 so far, for just the rulebook and space marines. you get a free ork army, that breaks down into two boxes of boyz ($70 rounded up a bit), warboss (20-50 dollars), a box 'o Nobz (30 dollars), and 3 deffkoptas (amazing models, going at 40 dollars each for a whopping 120 dollars for the three of them).
This totals roughly $500-530 worth of models/books in the box (taken from the canadian GW site, probably cheaper in america) depending on what warboss you get. And then you get dice, and all that fun stuff which I wont count, because you should have those anyway. thats a savings of $380-410 dollars (thats like, rent for the month!). its a very good idea to get the starter box, unless you're going off of Ebay, or battlewagon bitz (or you hate marines and orks, which is understandable). In both ebay or a third-party seller, you're probably getting the same, or higher prices than the starter box itself. Besides, marines and Orks are overpowered last I checked, and the stuff in the marines half of the box is a really good launch pad for any new player.
...My goodness, I'm glad I stopped buying this stuff XD. This game is madness now, and apparently only getting higher. But, IIRC, Valks arent legal in combat patrol, cause they're 12-12-10 armor. Chimeras are fine though, and I highly reccomend taking one. Vehicles at such a low points is a huge up for you, especially since the new orders mechanic lets you do a buncha nasty things from inside of it.
If you wait to write your list, I'd be more than happy to show you the insanity that is the new guard codex. I can scan the army-building pages and send em your way, if you'd like?...as well as the special abilities for guard, cause some of the new stuff is NASTY. =D!