Reply to Launchpad Software Question

I really want to buy the Novation Launchpad and do things like M4Sonic ( )
Does the software included allow me to do what M4Sonic does in his video? If not does the "Intro" version of Ableton live do that? Are they the same thing?
Also what are some things I should buy in addition to the Launchpad? (Soundcard, Monitors etc.)

Thanks and sorry for the "uneducated" answers. I emailed both Novation and Ableton but haven't had a response. (Probably busy....)