I bought FK coilovers from Venom motorsport, for ?400, they did me a deal as the coilovers I ordered where late arriving. They should have been about ?470.
It is just a case of turning the two nuts to raise or lower as you suspected.
I bought the wheels fom Dubmeister, with conti sport tyres (to try and keep the car completly German) for ?850. A little expensive for 14" wheels, granted, but you will find they are worth the money. Be wary of the cheap deals on wheels and tyres, as you will end up with cheap tyres, that wear out in a short time and offer less grip.
Rememeber to have your camber, trackin g and toe aligned after replacing with coilovers, or it will feel a little sketchy when driving.
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