Hi SmillingSwordsman,
You are going to really like fishing with a bait caster after you get a little experience.
I would not get mono unless you stick to the lower weights of line. Definitely don't go with 20lb or heavier. It depends a lot on what you want to fish with. If you plan on a lot of plastics then I would get 30lb braid. That will be a good all around line. Power Pro is pretty cheap these days and the line will last for years. You will have to replace the mono at the very least, once a year.
I would start with a 3/8oz weight as the 1/2oz weight will give you too much spool speed with not to hard of a cast. A back lash with a 1/2oz weight can be huge. Use a lot of drag and have the spool tension knob adjusted so there is no movement of the spool from side to side. Start with a short pitch of a few feet. You can see videos on line how to pitch. I would use the technique where you hold the bait in your hand as you start your pitch. That should be easier for you. Understand that bait casting is all about your thumb. You need to learn how to feather the spool with your thumb. So with your very first cast start with your thumb on the spool slightly and do your pitch. If the bait doesn't go any where then don't use quite as much thumb. With a few tries you will get a feeling of what you need to do. When you feel comfortable with feathering the spool than you can reduce the break setting slightly. That should give you a little more distance. Don't get in a hurry and don't try an overhand cast or pitch with all your might. That will be a disaster until you get some experience.
I suggest the pitch because you will understand the mechanics of using the brake, spool tension and your thumb. When you get a back lash it won't be quite as horrendous as it will be with an overhand or underhand cast for distance. Distance should be your last goal learning how to cast a bait caster. Remember that your thumb is the quickest way to stop your spool and if you have any problem with a cast, just jam your thumb on the spool. That will lessen any back lash.
Here is a good way to practice using your thumb. With the weight on the line, hold the rod tip up at 45 degree angle and release the clutch holding the spool with your thumb. Now release your thumb pressure slightly. As the weight falls to the ground use your thumb to control the speed. You may need to loosen the spool tension slightly for this exercise or increase the weight. If you have a balcony or second story window you can really get some benefit with this before your first cast.
Frank