This instructable now covers version 1.2 of the kit as well. Version 1.1 and older have green PCBs, and the version 1.2 is all white. The only major difference in 1.2 is the R5 resistor placement. Step four on resistors has more information about it. Other than that, you can follow the further directions without worry.
Also, if you do have a v1.1, there's a slight modification to make it work with new iPods. In version 1.2, the modification is simplified.
You can buy the v1.2 kit at the MAKE store.
This kit is great for soldering beginners. To learn the basics of soldering check out this great guide by noahw. Also, here's a good video tutorial from the MAKE blog.
Step 1: What you get and what you need.
What you get with the kit:
1 x IC1 MAX746 with Socket
2 x C2, C3 Power Supply Capacitor
2 x C1, C4 Bypass Capacitor
2 x R4, R5 10k .25W Resistor
1 x D1 Schottky Diode
1 x L1 Power Inductor
1 x X1 USB Female Jack
1 x Battery Holder
1 x PCB
What components you'll need:
2 AA batteries
What tools you'll need.
Rosin core, 60/40 solder
Soldering Iron hopefully with a pencil-like tip
A vice to hold up the PCB
(You can get all this stuff really cheap at http://www.all-spec.com/ or http://www.allelectronics.com/)