Just getting into it

We just bought our first board. It is an O'brein with S plates. I want to know if I can do this sport before I purchase any new boards or bindings. What I need to know is what do I have to look foreward to with the s plates as opposed to regular bindings? I have no idea how to tell t he difference between my inexperience and poor performing equipment. (I only paid $10 for the board.) If we are any good atall, I do not have any problem spending a little bit on some good binding. We are going to go out this week some evening.