Is this a decent/cheep way to get to better spots?

I found one at walmart for 59 bucks. I think it will be good for a start.  Whats the worst thing that can happen?

Do i need flippers? So i get chest high wadders?

I don't have a tube but I do fish out of a personal pontoon, and yes they are a great way to get to secluded areas and small water.  A few things to keep in mind, I didn't look to see where you are at, but if you are in Florida, then they are a BAD BAD idea, think floating gator bait.  

Waders are up to you in the summer, but obviously in the colder months they are a requirement, hypothermia is not good.  

Fins in a tube are a must in my opinion, your only source or propulsion is your feet and the fins will only make that eaiser.  It will take you a few outings to get the hang of the fins though, they do require some coordination and getting used, but once you have them down, you can get to some really good spots very quietly.

I used my tube a lot last year.  Not so much this year because i bought a boat.  The tubes work great to get to secluded spots very quietly.  Another reason i quit using mine was because of the GIANT snapping turtle that surfaced about 10' from me the last time i was out in it.  No Thank You!!!

Jason

Flippers- yes

Neoprene chest wader- yes

Great way to fish.

Here is a good article on the subject. http://www.bassresource.com/fishing/float_tube.html

also you can do a search on "belly boats" and find all sorts of information about selection, styles, etc.

there are clubs for belly boaters who have refined this style of fishing to an art.

This is another good article: http://www.gofishohio.com/articles/licht/eee_bellyboat.php

The selection of methods to put you on fish is about as wide as the lures available and all are good.

Search 'pontoons' on this site if you want to make the gators and snakes work to get at you.

I'll state the obvious.

Do not tube in gator water or water with population of large snappers.

HAHA hope there are no Gators in california...