I won't go over the contents as they can be clearly seen on the Games Workshop website (above link) but I will comment on the quality of the miniatures, they are excellent! well above the standard I was expecting (I've still got some of the original Space Hulk Terminators around here somewhere! They looked like weird toad men!) The asking price is almost worth it for the figures alone.
Getting up and running was pretty easy, most of the figures just clipped together although they all required gluing to the bases. Myself and my girlfriend Becky spent an hour or so putting them all together and we soon had the squads needed for our first games.
Our first couple of games demonstrated a few of things to me,
1) the 40k rules, at their basic core level are very simple, the most complex part of the game turn, the assault phase was fully understood by our second game.
2) Becky is better at 40k then me. She annihilated me in both games!
3) Playing with all grey unpainted figures is very confusing, especially in an assault.
Ok so were there any problems? Not in our first couple of games no, we will be introducing some of the other models in the set in our next game so I will let you all know how that pans out.
As for the whole package I think the only thing I thought the game could have done with is a few intro scenarios to introduce the different pieces (like the second edition boxed set) and maybe more balanced forces in the box (the Space Marines force is approx 30% stronger than the Ork force) although if you take turns playing each side as Becky and I have done this shouldn't matter.
Becky is most excited about getting to paint the Orks, we have a money off voucher for Hobbycraft and our local one stocks GW stuff so I think some paint buying may be in order.
I think the Space Marines will be painted up as classic Blood Angels circa the second battle of Armageddon.
As for the Orks well that will be up to Becky, I'm sure they will look great, I'm sure she is half Ork anyway.
All in all Assault on Black Reach is an excellent introduction to the World of Warhammer 40k, I just hope my wallet can cope!