Ah, Arkham Horror!
I have both the original and the reprint.
They're both good, but the reprint? Is really, really a quality product. (Of course I expect no less from Fantasy Flight.) It's well worht the price:$50 is a reasonable price, given the complexity of the game and the quality/quantity of the pieces they provide.
A really, really quick overview...
Firstly, there's lots and lots of pieces (it's really a "Kitchen Sink" type of game.): there's oodles of Cthulhu-esque monster tokens, a couple of different decks of cards (Gate, Mythos, and Location Decks, along with smaller piles for Unique Items, Common Items, Skills, Allies, Spells, etc.) Additionally, there's 16 Unique Investigator Cards, along with corresponding playing pieces. Theres about a half-dozen Great Old Ones to choose from as the villain of the piece.
The Gameplay? Takes a little bit of getting using to (there's some fiddly bits, especially in the Monster Movement part, and the COmbat phase.), but it flows really nicely after a few games.
This is a cooperative game, in which the Investigators win by closing all the Gates open on the board, permanently sealing six Gates with Elder Signs, or by beating the Great Old One when it awakens.