First, Welcome to the Hobby!
Viability depends on your definition of viable. Are you looking to be competitive or otherwise? Are you asking if this is, regardless of competition, not going to keel over?
To be a good beginner army, a beginner army being meant to help a player feel comfortable with the game, it is good to include a variety of units.
As far as the list goes, if you are sticking with a pure monster list, it is a bit over 500 points so you will have to cut something. I'd recommend picking up the sourcebook to know for sure. Also, I recommend looking up DCHL's "How to play/buy Angmar" as it gives good pointers for beginning players.
This list, as far as currency goes, is a little expensive. So keep that in mind too.
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