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At £149 I think this is a pretty good deal on Apple's part. Not only do you get OS X Leopard (which in itself used to cost around that £140 mark) but you also get the latest editions of iLife and iWork.
I found this product very useful, I didn't want to be stuck with OS X Tiger, while everybody else was buying new macs with Leopard pre-installed. A lot of applications I wanted to install on my macbook no longer offered Tiger support, so I knew I had to upgrade.
The installation was pretty quick too, and once it booted up I was amazed at the differences, both subtle and vast. Display seemed richer, things seemed to snap into place quicker, and my productivity was increased.
However, I didn't really want to buy iWork as I don't really use it, but buying Leopard an iLife separately worked out more expensive, so I opted for the Box Set.
One other thing, I also wished I waited that bit longer to upgrade, as Apple are releasing a newer version of their OS X, Snow Leopard.
It will only be available to Tiger users as part of a new Snow Leopard, iLife and iWork Box Set, due to be released this September!
So a bit gutted about that really.
Overall though, I am happy with OS X Leopard though, it gives me everything I need and much more.