I bought that kit from NB 5 or 6 years ago when I first wanted to start kegging. You could possibly hunt around and save a few bucks buying everything separate but not much and you'd still have to consider shipping costs. So I'd say it's a pretty good deal especially if you are getting a kit free with it.
My opinion of the kit is that it's decent and has held up well over the years. I'm still using the kegs and CO2 regulator, although it came with a slightly different one back when I bought it. I actually bought a Taprite regulator similar to the one in the current kit and feel it's better than the original one I got from NB (I'm using both in separate keezers).
If you've never kegged before like myself when I bought this it's nice because you get everything you need to get started without having to figure it all out on your own. All you need is some beer and somewhere to keep the kegs cold.