Sorry you don't like yours, but everything you just described would be on the box, or on Lowe's website...
I bought their 227 piece set in the fall of 2010, Im VERY happy with mine.
YES, its missing a few wrench sizes, IDK why either. But you can spend a few bucks to complete the set, thats what I did.
YES, some of those little tools are useless (IDK where all of mine are), but its a nice complete set of sockets and ratchets, especially when you consider the price. My set is USA made, but tool wise it seems identical to the Taiwanese set they sell now.
Any honestly, those sockets and wrenches are the BEST chinese hand tools I've ever used.
I now have four smaller sets, a 3/8" set of 20 or 40 pieces or something, a small 1/2" set I bought on clearence, and two smaller maxx-access sets I bought today.
I like Kobalts. Still.