Good to go!
Kevin, since it is a standard beetle, the front end is a conventional ball joint setup, which is fine. No need to change anything,as long as the ball joints aren't too sloppy. KYB makes an inexpensive gas shock for the front and rear that will work fine for you. As for the fiberglass kits, buy the cheaper ones as they fit just as well usually and the expensive one's break just as easy.
Wheels- try to stay with the stock offset on the front, too much offset makes them drive funny and you are more likely to break front fenders. With a stock motor, six inch wide for the back is good. Try not to go too large of a tire on the back, too tall of a tire makes the overall gear ratio too high. A stock motor will have a tough time pulling fourth gear on the highway and first gets too tall for rockcrawling.
Engine and trans use rubber mounts and pull apart very easy when offroading, which can bust the front off the transmission. There is a good(cheap also) kit that has poly-urethane mounts and metal straps to tie down the engine/trans assy.
Lastly, very important! The battery is under the rear seat, make sure it is tied down securely. If you do a roll over and the battery gets loose, you don't want to be in there with the battery loose!
Get an issue of Hot VW magazine and read up. $500 for a running VW is a good deal also. Pm me if you have any more questions.
Sam