Have you find the Skill window where you can find all kind of Skills of all classes (Priest, Mage, Warrior, Ranger, Dragon Slayer) ?
there you can spend your skillpoints on for example "Fireball" and after that you can put that magic fireball spell on one of the 8 buttons on your Xbox controller (press for more than 1/2 seconds one of the 8 buttons and you can select a skill you wish to put on that button.
There's a Healing Skill, but that required level 15
In your Inventory window you can put all gear on you wish to wearing.
The FIRST tiem you have a Bow, do the same as I say above about the Fireball spell :
press in a preferred button for a few sec and select the bow (or potion, food, drink, melee weapon).
I play on a flatscreen of 19 inches and the size of the text is more than big enough. Maybe ask this question also in the "Technical Problems" forum ?