I nearly sponaneously bought the Hannah Montana amp fro Kmart. It was about 1/2 the price of the next-cheapest brand new amp I've seen (the SP-10).
I didn't do it because I couldn't bear the thought of supporting Hannah Montana.
Shame about the guitar. Could be a decent little thing if it was marketed on it's own. It's just a tool for the Guitar Hero folk who think they can play just because they are good at Guitar Hero.
My little bro bought himself an Epi LP and a Monterey amp for AUD$700. He sold them for less than half that amount 2 weeks later when he realised he had no idea what to do with it and no patience to learn.