That seems like a lot to me? Also, I hear a lot of people mentioning WHIP, is that a useful category for pitching? Finally, do you recommend some sort of balance between offensive and defensive categories?
Oh, and here's the players if that lends any insight:
Yes, that is a lot for someone new to fantasy baseball. I'm afraid it would be overwhelming and you are as likely to dislike fantasy as like it if you start this way. Heck, I've been playing since '93 and I would never join that train wreck. If I were you I'd go with a basic Yahoo public 5x5 league and join your buds next season. My interpretation of basic 5x5 is HR, RBI, R, SB, AVG / W, Sv, ERA, WHIP, Ks.
Yes, WHIP is widely regarded as a category that truly reflects a pitcher's skill. Some even debate that it's more telling of an individual's skill more than the other common pitching categories.
“Most men lead lives of quiet desperation and go to the grave with the song still in them.” --Henry David Thoreau