I'll swing by and help Nightfall out. I've got CCRev and it has a lot of neat stuff to it. Is it worth the sticker price if you already have CC1... maybe not. Especially if you are short on funds and you don't mind picking up the errata on the website. However, CCRev really is much more then CC1 with the errata. CC1 was a book truly deserving of a revision and 3.5 coming out certainly made it a great time to do one. All the monsters (save for the Herald of Vangal and Drendari which show up in Div&Def, and exemplars which will show in a future Player's Guide) have been updated in 3.5 format (with descriptive text, formatting, all that jazz). The truly questionable art (much of Guy Davis' work... don't get me wrong, he's got good work, just not appropriate for a fantasy setting.) has been redone with better art. Those creature that really needed to be templates now are (and much of the truly new stuff can be found there). And several "broken" creatures have been fixed rather nice (like the Feral.) Also there is a section on PC races in the back which is completely new.
So, for a new GM for the Scarred Lands this book is a must buy, even more important IMO then CC2. If you've been keeping up with S&SS material, maybe this might want to be pushed back till after all the Player's Guides come out which, I think, have more bang for your buck. However, if you are looking for a good monster book for whatever setting, CCRev is now once again a good monster book to get. IMO CC1 ceased to be a while ago (in lieu of CC2).
Hope this helps,
Werner Hager