At 5'8 you should weight ~200 lbs and be lifting a lot more than you are now before moving on to the TM. Don't give yourself low goals.
I will soon switch to a texas method template (for bench press and press and keeping 3x5 for squats and other movements).
I can bench 136 lbs 3x5 and press 104 lbs 3x5 at 163lbs BW and 5'8'' (with a lot of fat and very skinny bones) and I am 16 years old.
Well , that might seem pretty weak for many of you but that's good for me , as I have spent most of my life playing video games and I could barely press an empty bar at the beginning.
I have been gaining 0.5-1 lbs everyday but just adding two pounds to the bench was VERY difficult.
I will attempt 106 lbs on press on friday but I doubt I'll get it.
When I can't even afford small jumps like these I'd better move on to an intermediate program.
However , should I start with my current maxes or take some weight off the bar ?
At 5'8 you should weight ~200 lbs and be lifting a lot more than you are now before moving on to the TM. Don't give yourself low goals.
You'll definitely have to take weight off the bar. Do you think you'll be able to get 136 lbs and 104 lbs on bench/press for 5 sets? You might try starting at 125 for bench and 95 for press, using 2.5 lb jumps/week on the bench and 1 lb/week on press. Or 2.5 for both of them. The idea is to start with weights that will let you build up some momentum for a few weeks without worrying about missing reps.
Have you rest on SS yet?
How is your sleep?
WHat is your diet like?
Texas method will fuck you up if you aren't eating and recovering properly. If your problem is one of those two things moving on to TM is not the best move.
You are 16, which means that your hormonal profile and all that crap isn't at full speed yet. I'd just reset your presses, use small increments, and stay on SS for all the lifts, while trying not to get too frustrated at lack of progress at any given point. You are YEARS (possibly decades) ahead of most of us regarding starting real training, so there's no rush.
Remember that ANY progress is good progress, especially on bench/press/power clean.
Rip writes somewhere that it's better to not do hybrid of novice/intermediate programmes. Something to do with the hormonal response during the week to the heavy/light/medium work, I suppose.
If you do take the TM-route for your pressing movements, reset them back abit more than you think you should, as has been said by others.
I would listen to the suggestions above. You are very lucky - I wish SS had been invented when I was your age. Now what would I do if I were your age: eat like a motherfucker. You can become strong, taller, bigger with SS and a lot of food - stop worrying about your abs and again eat especially lots of protein and drink a lot of milk. Don't waste your chance.