I don't have any experience with Nolo but I haven't heard good things. Personally, I would stay away. For 280 dollars you may be able to find a WMR headset with controllers, or get one shipped for a little more.
You could also wait for the 4K controllers. Which surely must be cheaper and better than Nolo, hopefully anyway.
There are cheap alternatives like psmove, leap motion with driver4vr, but can only recommend that if you can't afford anything better, don't mind tinkering, and just want to try it out in the short term.
So yeah, wait for the 4K system or get a WMR, is my recommendation. I couldn't wait, ordered one yesterday. Will post something when it arrives and I've tried it out.