I completely agree with muppetquilter that the tights are a disaster waiting to happen (especially at the hands of my 3-year-old.) The shoes are great -- we use them with the royalty outfit all the time. I don't like the headband, and DD ripped the cheapy fabric covering playing with it. I didn't mind that the wand was from the old set as I bought the girl-sized one for DD when it was on clearance at the sight. She loves having a tiny version of her wand to play with.
I love this set, I think the colors are really fun and bright. My daughter mixes and matches this set all the time, especially the vest with the boys outfit. (Who knew a vest could produce so much playtime?)
I think the boy's outfit is really cute, and my 3-year-old DD has a really easy time with the crown, outfit, and even the shoes (although mom has to tie them.) The girl's outfit, while also adorable, causes DD A LOT of frustration. The shoes never stay on, and we've resorted to using the ballet shoes from the newer ballet outfit. The hat is impossible for even me to get to stay on, let alone a 3 year old. The dress gets snagged on the velcro from DD playing with it, but other than that it's OK. DD LOVES this set, but I wish they would have spent more time having real 3-year-old girls test these out to improve the princess set.