This is a good enough game for even those who can not pony up the dough for full kit or a new guitar, just get the game and play just bass and guitar, and let your inner rock fury go!
I myself purchased this band kit as soon as I could this morning the day of release, and it is well worth it. Here is what comes it the kit: Drum kit(3 pads, 2 cymbal risers, kick pedal) with midi in and expansion port, drumsticks, usb microphone, guitar with connector/usb splitter, stickers for guitar. All you need to connect in one box, no need for extra usb hub if you do not want it.
A bit about the drum kit, very playable, durable upper, kick pedal is a bit flimsy, but alright for my purposes.
A bit about the new guitar. This features detachable faceplate, extended neck, larger strum bar, longer whammy bar, and the tap/touch pad. this guitar is not necessary for any features in the game, but for advanced gamers, they may find it a new fun way to bend the sounds on long notes, or get through hammer-ons and pull offs faster. I'm pleased I can get through this on the old Les Paul.
Now, about the game itself, see song listing above, it's amazing. Just a ton more songs available in the game, only a few to "purchase" in the game, the rest unlock. The venues and graphics are all sharp and fantastic to look at. The animation of the Guests who come in are spot on, such as Ted Nugent riding in on a Bison, or Zach Wilde's attitude behind the 6 string. There are many other guest such as Billy Corgan from Smashing Pumkins, the Lead Singer of Paramore, and the drummer from Blink 182. Overall the game play will keep you busy for many hours (took me almost 4 hours to get 50% through, minimal breaks). The head to head battle's with guitar legends is now replace by guitar challenges with masters like Ted Nugent And Zach Wilde where you don't try to cut strings and stuff, you just try to keep up with them and make yourself and them look good. If you do, you play an encore with them.
Also, there is a recording studio that allows users to make and play their own music, a first like this for this genre (though rock revolution tried). And much like legends of rock, there is online team play, head to head battling.
If you do not have another "Band Kit" and are looking to have one, this is an excellent choice, and having played Rock band and Rock Band Two, this is at or above both of those, especially since they are all "Master Recordings", no covers, and it has plenty of great songs fulfill my need to thrash, rock, or pop my way about stage.