In general, the class would be approximately 16 hours long, broken over (most likely) two sessions. There's two phases, the design phase and the build phase. The design phase may be broken up, but the build phase cannot - due to the nature of solderpaste, once you start, you either finish, or you come back later and start over.
The design phase involves learning how to design PCBs using PCB design software, create output files, and in the Custom PCB classes, how to send them to a PCB fabricator. The build phase involves how to assemble Surface Mount based PCBs (populating them with components). The goal is to have everyone go home with at least one working board.
The current target for the first session is around March 23; the costs shown include everything - tools, supplies, PCB fabrication, components. You'll need to bring a computer, and if you can, a mouse (doing CAD with a touchpad is more difficult).
If you have questions, shoot some email to jonathan AT makeit-nyc DOT com.