Everything you would need to brew two batches of beer (with bottles and 2 kegs). The following is included, and the price from Midwest Supplies is listed (over a $750 value, plus there are some smaller items included as well):

Retail Prices:
Carboy (2) $100.00
8 Gallon Brewing Bucket (3) $51.00
35 Ez Cap Bottles $100.00
8″ Funnel $10.00
Stainless Steel 3 Gallon Kettle $12.00
Wart Cooler $64.00
22 oz Bottles (10) $12.00
3 Piece Airlock (2) $5.60
2 Gallon Fermenting Bucket $9.00
1/2 Inch Auto Siphon $16.00
Small Universal Stopper (2) $3.40
5 lb Co2 Tank $84.00
Co2 Body Regulator $75.00
Bottling Spigot $4.30
1″ Blow Off Hose $7.50
5/16″ Siphon Hose $1.70
Plastic Lid For Brewing Bucket (2) $18.00
5 Gallon Reconditioned Ball Lock Keg (2) $128.00
Carboy Brush $5.50
Bottle Capper $17.00
Easy Clean $5.50
Dial Thermometer $14.00

Sum $750+ (price at store)
My Price $325 (firm)