THe T1R is a very good kit, though this one seems a bit beat up. Still, I think it would be a very good deal in order to get into racing (especially considering all the spare parts).
The T1R, which is still being sold by X-ray (I think it was released shortly after the T1 Evo 2 @ 2003 or 2004), can be upgraded to Evo 2 status with the purchase of CF upper and lower decks, CF shock towers, and a few odds and ends. The BMI '04 X-Ray Kit
would be a good upgrade, especially if you are running on carpet.
The T1R comes with a c-hub suspension, which works great on carpet. THere is a pillow-ball suspension that can be fitted to the car if you are running on asphalt and prefer that. Also, the T1R comes with ball diffs front and rear, which is what you want for carpet.
Since I assume you will be running at RCScrewz (though you're more than welcome to join us up at Larry's), you're going to want to look at upgrades specific to carpet racing and increasing rigidity in the chassis. This includes the hard arms and hubs (though, I'd stay away from the aluminum steering blocks and hubs since you'll be running stock and the added weight isn't worth it). Also, you'll probably want a front and maybe rear anti-roll bar (if your tuning takes you there).
Anyways, here is a listing of optional parts from Xray:
I say, just give it a try with what you get with the kit and go from there.