Hi A.A welcome to the fantastic PSoC world. KIT-001 has all of PSoC devices PSoC5, PSoC3 even PSoC1. PSoC1 is a difference with others, that use PSoC Designer for IDE, Others are use PSoC Creator. On other hand, KIT-050 is dedicate PSoC5, using PSoC Creator for IDE. If I were you, I will buy KIT-050. Because, Creator has good features, and maybe familer to new comer. And KIT is simple rather than KIT-001. If you will become need PSoC1 device, think when its coming. Of course, you are rich man, buy both is good idea. Anyway, I have not neither of that. Thank you.