"Page Count: 32"
Let's examine those "32" pages, shall we?
A Sleeve: Separate full color front and back cover, all about marketing. Blank on the inside. But I guess that's 4 pages, right?
A Folder: Full color front and back cover art. The front art is is the same as on the sleeve, without the text. The back is part of the decorative 4E D&D glyph/mark, and lots of blue. The insides of the folder? A blank space with 7 lines on one side, and the 4E XP table on the other. I guess that's another 4 pages.
The Sheets: 4 two-sided character sheets... 2 portrait style (same as on the WOTC site), and 2 landscape style. Yes, **FOUR** Character Sheets, total. 8 pages.
The Cards: 8 two-sided sheets, lightly perforated, each with 8 cards split between Magic Items, Utility, Daily, Encounter and At-Will Powers. Blank, so you will have to fill in your own details based on your character. So I guess that's arguably another 16 pages.
And there you have it: 4 + 4 + 8 + 16 = 32 pages. Yes, you have to count the disposable cover and its completely blank flipside to get to a 32 page count.
At this rate, I'm surprised they didn't count each of the individual cards as a two-sided page, and jacked the total page count up to 144 pages. Heck, I could get a sharpie and write on the shrinkwrap, and that's another 2 pages right there!
Seriously, 4 two-sided character sheets and 8 two-sided sheets of cards... that's 24 pages and that's being generous, but probably playing by ISBN rules. It's pushing it to throw in each side of the folder as "a page". But it's beyond the pale to count a disposable sleeve that tells me to "Get More at D&D Insider" as another 4 pages.
WOTC, if you were my girlfriend, I'd dump you. And my wife would probably punch you. Then punch me for giving you money. Don't get me wrong, I love 4E. But I can't help but think that the product marketing guru at WOTC has a sign featuring a quote by PT Barnum hanging on their cubicle wall. Please, don't produce more rip-offs like this again, even at $10. It just hurts your reputation, and leads to reviews like this.