I don't think they cancelled putting all the games in one box. One of the developers said something about Sony clearing out all their excess stock with these old packages first to get rid of the separate Greatest Hits editions. Once those run out, they will be replaced by the single case...
But they all come with the adapter, so yes it should work. This particular card sells for around 30 to 35 on Amazon, so this would be a good price if you specifically needed a microSD card for a phone or something. But you can probably find an equivalent SD card for cheaper.
Also, the price on Amazon varies by color for some reason, so if you don't care what color your controller is, you can save a couple dollars.
The Red controller is only $39.75 right now compared to the black at $45.38
I got mine used through Best Buy just a couple of weeks ago. You might want to check the used deals of the week because I picked up AC2 and AC:B used for $10 each.
I think the 360 version of AC1 is about $8.00 used through Best Buy.