Not that hot of a deal when you consider that this is the old 12-month kit (with the expired $20-off coupon) that most retailers have marked down and are trying to get rid of anyway.  

It's still the kit for basically $40, so not a bad deal when you consider that's 12 months of XBL for $40 (cheaper than the $50 normal), and the headset and billiards is just a bonus...but not much of one.  Most of us have a headset, and Billiards just sucks.

That's the positive, the negative side of this is you have to pick of GoW at full price.

I'll wait and see if we don't get some better deal on Gears closer to release.