Is this a good workout routine for me to start off with, and also what would be a good diet plan for someone of my age and weight and stature. Should i try to lose a little weight first? Since this is a beginners workout, should I consume less protein, protein shakes, and good carbs? Or should i consume just as much as I would in an intermediate level workout?
The above routine is useful as discussed, and should be used for the first month, to allow the development of good form, rep performance and getting a feel for what exercise works what muscles. By the start of the second month, you should use a split routine, this will allow you to train harder and to use more exercises, and this type of routine enhances recovery significantly.
One of the basic tenets of weight lifting: you must either add weight, add sets, increase intensity or decrease rest time to encourage continued progress. At this stage, adding weight makes the most sense and will be recommended throughout the first 6 months or so. But by the very nature of acquiring experience, you'll also be adding sets. Decreasing rest time and the use of intensity techniques is used as you reach strength plateaus, when you are more advanced.
People who exercise have different requirements because the more you exercise, the more you have to eat to sustain that level of activity. This also applies to casual exercisers, but it may not apply to you if fat loss is one of the reasons you took up weight training. In this case, you need to create an energy deficit; which means that the energy (or calories) you consume in food is less than the energy you expend in exercise and daily living. Your weight training, in this case, is to assist with fat loss while attempting to maintain muscle.
Of course, no one was born pressing 500 pounds or squatting 700 pounds – it takes time to build this kind of strength. Assuming your form/technique is in place, you'll want to incorporate some low reps and heavy weights into your program. For example, do 10 sets of squats for 3-4 reps each, or 8 sets of 5. In other words, in order to build strength, keep your weight heavy and use low reps for a high number of sets. Squatting your bodyweight is a bare-minimum requirement for a beginner (or twice your bodyweight for an intermediate-level lifter).