I'll begin by saying, as far as value goes, this is definitely the way to go. I've been buying anime since back in the day of four episode sets at the price you get most box sets these days. I'm in Australia, where 13 episodes of Naruto cost more than I spent on this whole set. So needless to say, as someone who has watched a lot of Naruto, and knew what to expect, I definitely feel I got my money's worth.
If you don't know what to expect from Naruto, then you likely haven't seen the first series. Needless to say, you should check out the original series first, as this series definitely has an ongoing narrative. And it's a narrative that has been drawn out for as long as they could! Each episode on it's own generally offers very little to the story, with a whole lot of padding and unnecessary scenes. This was the case with the original series and it is no different here. Expect to see a lot of flashbacks, stare downs, internal monologues, etc.
That being said, for as drawn out and frustrating as the story can be, I really did want to keep watching, because I wanted to see where the story went. You don't get the full story with this box set, but you do get several story arcs. Another positive note is that it is almost entirely manga material, meaning that most of it is story related, and not just filler the anime often uses to fill in the gaps between manga chapters.
The story also has some likeable characters, not least of all the protagonist, Uzumaki Naruto, who, as stated in the anime itself, has something about him that makes you want to cheer for him. However, unlike much of the original series, it does not feature many of the secondary characters being involved in the plot. Rest assured though, I hear we get a lot of that later on.
In the end, it all comes down to whether or not you are interested in checking out this series. If you saw the first series and enjoyed it, then you can't really go wrong here. This is 52 episodes of the show at a great price. The sort of deal that makes me wonder how, as an anime fan, I managed to survive before discovering internet shopping!