I got this bundle October 2006 at Best Buy for $50, less an additional $5 for using a Best Buy Gamer Gift Card which has a $5 off coupon applicable toward games and gaming accessories. The price on this is not horrible, but if you watch out for sales you just might get lucky and get a real value.
The camera itself is of fair quality. Be warned - you need to have adequate lighting in the room, preferably in front of you (coming from the same direction as the camera, and who really has lights next to their TV?) in order to get a decent image out of it. For games like TotemBall, which actually use the camera as the game's controller, this is essential. Not enough light means the camera will not do a very good job of reading your movements and translating them to movement in the game.
In my bundle I got the 200 MS points as well as codes to unlock Uno and one other XBLA game (can't remember which). I had already used points to buy Uno, so I gave the code to a friend.
The included headset is fair quality. Good enough, I guess. Since I've got three of them now, I hope that Microsoft realizes that people are probably accumulating a lot of them and replaces them in these XBox Live membership boxes with something more useful. Likewise, I won't be needing another camera (I use the one I have so little as to make me wonder why I had to have it in the first place), so hopefully when October/November rolls around and I'm in need of a new Gold Subscription, they'll have a more compelling bundle on offer.