Hi there! I just found this site and it looks like it might be my new home page

I have had freshwater tanks for years and just lost ALL my fish in the big storm we had up here in Washington a couple weeks ago... no electricity for 5 days = dead fish.
Anyway I was in Petco to stock the tanks again and decided I just gotta try the saltwater which I have been wanting to do for 10 years. I have a 40 gallon hexagon and am going to use this. Here is what I bought:
40# of live reef sand
50 gallons of Instant Ocean
A Marineland bio-wheel filter
A couple new odds and ends..... inconsequential to my question...
So, can I put the water in my newly-sterilized tank then add the salt then the sand? Do I need to use a specific order for adding this or that?
Ehow.com says to do it like this: use bleach on everything although the girl at the store said just don't use anything that was in my old tanks. Then add the filtration system, then rocks and plants. Next mmix the salt solution 1 bucket at a time measuring with a hydrometer to ensure it is between 1.02 - 1.023. Fill the tank and add the heater and thermometer. THEN run it for 72 hours then "cycle it" (I thought the 72 hours was part )of cycling... what IS cycling??) Now, add fish. After that you buy a powerhead and a protein skimmer.
Is that all accurate? It seems like browsing the web I came across some variations. Sorry this is so long, and I am fine to wait for a general consensus from some expereinced salt-water-ers. I am going go get my 30 gallon freshwater going.
Thanks!!!