It probably isn't bad for a package deal, I wouldn't expect the stuff to sound incredible, especially the mic and the headphones but as a way to get sound in and out it's probably fine.

There are so many under $200 interfaces out there, I think that they are all fairly comparable. If you don't need the headphones and the mic, this Alesis USB Mixer seems like a great value. I have never used one though
http://www.zzounds.com/item--ALEMULTIMIX8USB
[img width=400]http://cachepe.zzounds.com/media/quality,85/brand,zzounds/fit,400by400/Multimix8USB-d85ab37d9e21b05a90cc322996f0a48d.jpg[/img]

I guess this is why I was curious what people were using out there because there are simply so many options.