Of all my DVD's, and I have many (I'm one of those geeks with every storage space availiable to me, used to store my massive film collection) , this is easily a favourite item in there. 3 Great films in this set (technically 4 actually), so to break them down:
King Kong (1933, b&w original & colour vers. (NOT remake), English): One of the greatest adventures human imagination has ever cooked up, and when I say that, I'm putting it on the Robert Louis Stevenson/Jules Verne/Alexandre Dumas scale, big, old fashioned, massively entertaining stuff. If you like the remake, and haven't seen this, watch it, you'll love it. (and it's only an hour and half, unlike the remake which is like three days long)
King Kong vs. Godzilla (1963, colour, Japanese): Not gonna give much info here, I'll just tell you what you want to know - yes, it is as awesome as it sounds.
King Kong Escapes (1967, colour, Japanese) Kong gets into a slug-match with the man-made mecha-kong, ran by business men obsessed with killing him. He tries to make friends with robot and all. Who's the goddamn monster now, huh? WHO'S THE MONSTER NOW, YOU DAMN HUMANS!
All in all, worth a buy I think, some good viewing in there, suitable for all ages too.