That would work fine. I have the shock repositioners myself and have used the spring spacers in the past.
However it also doesn't have the rear diff a-arm spacer which I would have thought was necessary. But then I know many people don't bother.
Also, 174 pounds is about $NZD344, plus shipping (approx $80) putting over the rough $400 customs threshold. This means that while there is still no duty, you will be up for GST plus a custom "we have to deal with this import" fee. So I would estimate a final cost of about $500. For 1.5" of lift.
Are you looking to up tyre size at any point soon? Certification thresholds are the next thing to consider - normally you throw every cert item you can at the vehicle so it is all included. Normally these are body lift, tyre size increase (more than 5% over nominal rolling diameter, and you are at 4.X% already), suspension lift.
But that said, we ran with standard vehicle for 5 years, the only mods being hooks, snorkel and radio, and we quite happily did Grade 3 stuff in a club environment. Sometimes Grade 4.
It has only been the last 5 years where we really modified it and it has only been the last 2/3 years where we have been comfortable with Grade 5 stuff. (You will see why in our build thread on ORE).
If you end up joining a club (probably CCVC in Wellington?) check with them regarding what the require for tow hooks. Some of the clubs are quite particular about which way the hooks face etc. And their safety officer can direct you to existing Vitara's with that stuff sorted.
Hope this helps.