Boxed sets aren't necessarily a bad thing. I have started a number of people off in them simply because the clubs were still better than any game they have. Realistically, 85% of golfers out there will never be interested in more than what the box has to offer, its nice looking, "complete", has a bag and functions for the few outings they ever go on. I suspect with a company like Callaway, its not junk, its probably just a use for old moulds and presses to be used and extend their ROI potential. Ask yourself this, if Acer can sell "pro" heads for $9.95 retail and you can then build a whole iron out for about $16, RETAIL COST, do you really think there is something there so much more special than whats in a box set? I don't. Callaway can use the same formula add in another $100 on top of the irons for a bag and a couple of woods and make 300% on it. Why not?
I'd bet the woods are either an old cast with a new name or something they built and didn't end up releasing along the way, and slap a titanium face on virtually anything at 460cc with reasonable balance, you will have a decent driver. They look a lot like the Diablo design, so I wouldnt be affraid of them.
I would steer somebody that wants it to "last" to buy a Ping G series set of irons and go look for some lightly used or past year model drivers and woods, add a SW and pick a putter that suits their eye, but thats a whole lot more effort and not much if any savings over buying a decent box, soo...