Those lines look hideous, so -- as folks have said -- I would replace them first. They ought to be dirt cheap at [Big Box Hardware], your LHBS, or online, so there's no reason not to replace them.
I have 5' lines that came with my tower and I have no issues. But, for the price, why not get longer and shorten if you need to?
Clamps can be had even cheaper at [Big Box Hardware] or even [Slightly Smaller Hardware].
For the love of anything holy, spend a little on the regulator. Stay away from this one from Kegco. I just got it, it's awful. Adjusting is a bitch and turning that knob rips flesh from your fingers. A total nightmare.
That keg looks a little creepy, so you might want to pick up some extra o-rings too.