This is the latest re-issue of the standard Revell Phantom. There aren't any changes to the model itself, but the decals are now for more common paint schemes on F-4s than the somewhat bothersome "Candy Cane Air Force" markings the kit came with previously.
The model itself is fairly detailed when it comes to it's structure, but it lacks recessed panel lines and vacuum molded clear parts. Modelers who choose to rescribe the panel lines should be warned, the unique curves of the aircraft's fuselage make it tough to cut straight line. The kit comes with a cockpit which is quite detailed out of the box, and a great number of decals, making it easy to create a fantastic replica without expensive 3rd party details, but if the modeler desires absolute detail, many pieces designed specifically for this kit such as cockpit tubs, afterburner cans, and gun pods, can be purchased online.
The one thing to keep in mind when purchasing this kit is the skill level of the person intending to build it. The Phantom is not an easy build for kids, despite it being a skill level 2. The cockpit and intake nacelles are notoriously hard to install, and the landing gear tends to want to splay. On the whole, it's a great kit which will likely be sold for years to come.