From FlyingVintage.com:
Checking out Gibson's 1959 Price List, the Les Paul Custom guitar was priced at $395.00, plus $47.50 for a Faultless case. Next in line is the now famous Les Paul Sunburst Model at $265.00, plus $42.50 for the case.
So in 1966 dollars, the Husckster certainly didn't get a Les Paul, but he didn't get some cheapy starter either.
He said it was the whole set up, so I would assume that ment the amp to.
I guess a Stratocaster or Telecaster was comparable in price (then and now) to the Les Paul... Did they have the Fender Mustang/Jaguar back then???