As the title says, this set is good but incomplete, as it is missing both Patrick's and Squidward's house.
Bed with built-in catapult, armchair, TV, Gary's food bowl, 4 minifigures, krabby patty, grill with built-in catapult, umbrella, sun-lounge-chair-thingy (whatever it's called), book, boat-car with built-in catapult, reef-blower and 3 "marshmallows"! (Wow, that's ALOT of accessories)
Spongebob, Patrick, Squidward, Gary
And now for our beloved pros and cons:
TON of accessories
Spongebob's house is really detailed
Good choice of minifigures
Patrick's and Squidward's houses are missing
Could have been built on a large baseplate
As you can see, the pros outnumber the cons! I would definitely recommend this set, but if you want Patrick's and Squidward's house, go for the old set (3827 Adventures in Bikini Bottom).