The Fender Squier is from 2008, back when they sounded much closer to the US made Fenders then they do now. The action on this guitar is dialed perfectly. Very low with zero buzz, which makes it super easy to play. The Peavy Backstage has some electronic vodoo to makes it sound like a tube amp. It has 3 band EQ and a spring reverb and all of your regular overdrive dials. The Digitech RP155 has tons of preprogrammed and customizable sounds, all kinds of amp models, 20sec looper and a very great sounding built in drum machine.
The setup also comes with an electronic tuner, some well used but very good headphones for practicing quietly, and wall hanger for the guitar and cables.