You will not regret the purchase!
I see they added two new things to the bundle since the Intuos 4. I didn't even know they'd released the 5. I see they got rid of the SUPER DUST AND SMUDGE ATTRACTING black glossy plastic. =P
When I bought mine, I picked autodesk sketchbook. It is pretty good and I used it a lot until I discovered SAI. However it can be a bit restrictive in terms of layers. *edit*
Sketchbook handles tif, jpg, it's own format and a couple of others. It is intended for sketching so you get the basic brushes (pen, pencil, airbrush, bucket, paintbrush, etc) and can make custom ones and have a fair bit of control over it. It can do the typical basic transform stuff. Not really any filters or any of that. And layers are somewhat restrictive in the express version.
It is very lightweight however and nice and responsive. For sketching it is great (but SAI is honestly way better).
Elements is basically photoshop lite. It's photoshop with not as many of the features but still apparently pretty good according to a bamboo-owning friend of mine. She mostly does basic photo manipulation though. I have not really looked at elements much.
I could not tell you about any of the others as I have not used them.
If you haven't used a tablet before, it might be slightly frustrating to begin with but it should only take a couple of weeks or so to completely bridge the weird disconnect between hand to screen. I believe there are some sites out there with basic exercises you can do to help. I actually spent a month playing a drawing game instead. =P
Also, take a quick look at the settings. It's a widescreen tablet so if you're not using a widescreen monitor (like me), you'll need to map tablet drawing area to the screen ratio. It's important 'cause otherwise you'll end up with longer lines on one axis than on the other despite the same length physical stroke.
*more edit*
If however you are using two screens, the tablet drawing area will spill over to the second screen a bit so you won't have to mess with it. I discovered that when I got my new computer a few months ago.
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