Matt,
I must be overlooking this, but are a character's starting Valor and Pride equal to their Arete and Hubris?
Thanks,
Nope. Starting Valor and Pride are both ZERO.
You must earn Valor and Pride via actual play and resolving Muses. Do stuff that matters to your Archon, and Voila! Pride and/or Valor are yours. They are rewards for bringing key conflicts to a close.
Can you start a new Archon with some Valor and/or Pride? Um, sure, I guess. I don't especially recommend it if you plan on playing the game for more than one or two sessions.
This game is meant to be played over several sessions. You accrue Valor and Pride, especially, so that you escalate the scope of your ambitions, perhaps to the level of Championing or Usurping a Primarch.