nocuout,
First off, let me say, anything by Mark Hatmaker is a top-notch product IMO.
There are some grip/bodylock exercises, lift work, shouldering, pressing, swinging, shuffling with the bag on your shoulder, + some more but I can't recall all of them off the top of my head.
Then he talks about using the bag to improve your riding and pressure skills, positional transitions, and upper body controls like cross faces, head hooks, groin spikes, cow bites...all kinds of nasty stuff.
This tape is really a two for one deal, b/c it not only teaches conditioning drills, but actually teaches proper ground control...excellent instruction for a beginner, and even someone who is more experienced can pick up a few tricks.
Then he covers ground and pound, how to use the bag for certain sweeps and submission drills, hamburger rides and transitions (knee on face). Then he puts it all together and recommends u just flow with the bag, like u would with a partner...basically riding it hard and pounding the crap out of it.
If you do the exercises for the 3 minute rounds that he recommends, you will get a KICK-ASS workout, and improve your basic skills at the same time. Definitely worth the money, I hope you agree when you get it.
Also, you'll be able to come up with some ideas of your own and the "floor bag" might become one of your favorite pieces of equipment.
Here is a link to another review:
http://home.att.net/~erik.mann/flrbkwo.htm
Let me know if you have more specific questions.
-Hef
P.S. He has a "Floor Bag 2" coming out sometime this year I believe.