Tarantula comes with a very nice reel that you DO NOT NEED to levitate objects as shown in MLS or Tarantula. Mesika also teaches (unlawfully) the Fearson Hookup, but does not go into detail.
MLS comes with thread, wax, and a few gimmicks to levitate everyday objects (a fork, some ice, a deck, etc.). It teaches the Fearson Hookup in detail, and goes over many, many applications for it.
I would suggest buying MLS, as you can learn it from the man who invented it; it's cheaper; and you aren't paying $75 for a friggin' reel that isn't even used to perform the featured levitations.
With MLS, you can perform things like the floating cigarette, deck, ice, fork, dollar bills (any amount, real cash), and tons of other stuff.
Go Fearson.
EDIT:
I totally forgot. You also learn a multitude of other hookups, including several impromptu ones (including an impromptu hookup for food), learn a TON of routines, and a lot of useful information / ideas.