levon:
MichaelMeissner:
I have no idea about the official starter kit, but note, the starter kit will contain other things than are just necessary for your current project. There are other various starter kits out there.
I realize I'll probably get more than what I need, but that's ok. This way I can experiment a bit and then work toward that goal. Do you think either of the two kits mentioned are better?
Yep, I figured you wanted additional stuff to play around with other than making your first project. If you were looking for low cost kit and lived in the USA, Terry King (who posts in these forums) maintains a store, and sells this kit, shipping it from his home in Vermont. From the picture, it looks a bit more organized than the kit I bought, which just had a bunch of unlabeled components in a plastic bag. The kit has his clone of the Arduino that has better support for mounting sensors, etc. http://yourduino.com/sunshop2/index.php?l=product_detail&p=360.
The official Arduino kit is supposed to be nice in that it has a real book to go with the parts that give detailed build instructions for each project, and since it is an official Arduino project, some of the money goes back to the Arduino team, that in terms funds this website.
Another company that I like their products on is Adafruit. They have several Arduino kits (including an official Arduino Uno R3):
It also looks like Adafruit now has stock of the Arduino starter kit: Arduino Starter Kit from Arduino.cc : ID 1078 : Adafruit Industries, Unique & fun DIY electronics and kits
levon:
Also, would I be able to build this project with just one UNO? I assume the UNO would be at the display end with a wireless receiver, and the PC would be sending signals w/o the need for another UNO, right?
Yes, assuming you use a communication device that connects to the PC vai USB. I imagine xbee has such a setup, I know bluetooth does, and I believe radioblock has an add-on.
levon:
Ah .. good point. I think I might be able to use AC power. Am I right in assuming that most power consumption would come from lighting the 4 or 5 LEDs? And that an LCD would take more power to display? (Most of the time the information won't change, so I could put things into a sleep mode if that's possible while still keeping the display active). I may update the information only once an hour or so (and only occasionally more frequent than that).
Like any project, you want to start small and grow in stages. First do it with the Arduino connected to the PC and use the serial connection. Then add in wireless. Then add battery support if using A/C current is sufficient. Initially, just light a LED, then you might go to having a screen that displays information. You can get 16x2 LCD screens pretty cheaply, or 20x4 for a little more. If you are turning this into a full display station, you might think about a real time clock that will tell the Arduino the time of day.
levon:
thanks for the additional links. I am looking for the easiest and most cost effective way to do the wireless part, hadn't thought about bluetooth at all before.
I appreciate the help, so much to learn 
You are welcome, have fun!!