Yes, it would work. However, you do need to be aware of the motor limitation of the ESC as it cannot (like your car) handle the hotter racing motors. The implication is that if you do later decide to get a racing car you also need to replace the ESC. Fine for now, but probably not in the long run if you do get hooked and start racing.
Knowing and accepting that, the combo will work fine in your car. Price is OK, but quite close to what a used Novak GTB or LPR Sphere TC ESC and say an LRP X-12 or Novak motor should cost you. Have you checked the trades section here? Get this:
http://www.oople.com/forums/showthread.php?t=51388
and a used motor will cost you say £35 more but get you a speed controller that you will not outgrow, albeit without reverse.
Remember also to ge a suitable pinion as you will need to change your gear ratio.