What is an Arduino? Its a mini computer, which you can program using C. The learning curve is small and one can easily get the first working program running in a matter of minutes.

 The Arduino Mega compatible has :

• - Powerful ATmega2560 Processor:
• - 256KB of Flash, 8KB RAM, 4KB EEPROM
• - 53 digital I/O
• - 14 PWM Channels
• - 16 Analog Inputs
• - 4 UART Channels
• - SPI Interface
• - I2C Interface
• - USB interface (Used for power supply + Programming )
• * Free USB cable included

This boards hardware and individual components is same as Ardunio Mega original, The only difference being that this module is not assembled in Italy, Hence making it more affordable. 

The IDE which comes with this kit has all the code examples to get you started in a few minutes.

A Easy start to your first microcontroller project...

Look here for fun projects you can do with this kit : http://hacknmod.com/hack/top-40-arduino-projects-of-the-web/

Arduino Mega 2560 timeout problem:

This problem only appears to Mega 2560, not Mega 1280. When loading a program by Arduino IDE or Xloader, the loading hungers and never complete. This maybe experiencing the "!!!" exclamation problem.

The original bootloader would use !!! as an escape sequence to enter a special mode. If !!! , three or more exclamation point in a row are received during the bootload it will enter that mode and will no longer respond to bootload commands. If you have entered any strings with !!! then you can remove them and this should fix your problem.