I bought it at full price launch day, and I still firmly believe I got my money's worth. With the total hours I've pounded both into the games and instruments (as well as everyone else who was playing with me), I've EASILY reached my "happy quota" of 1$ paid per hour discussing the game/playing the game/etc.
If you still have RB1 gear, jump on this deal right now. The drums are phenomenal, the bass is a joy to play. It may require you to have slightly longer arms, but if you enjoy playing on just the solo buttons (as I've taught myself to do), it's great. Strumbar and buttons are sleek and beautiful.
Also, (what they don't tell you) the dongle for the Höfner has 2 USB ports in it, so you can use it as another hub of sorts. So for you PS3 slim guys out there, you can take your RB1 hub and plug drums, 2nd guitar, and one mix in one port, and the other port can be bass and 2 mics.
Totally considering buying this bundle again - my bass finally gave up the ghost after a year of dedicated expert play, and 3! full game, full combos (TB:RB bass AND guitar, and Lego:RB bass.).
All in all, an excellent purchase, and you should TOTALLY jump on this if you want, frankly, the premiere Rock Band experience.