It's a script that installs all kinds of useful stuff and sets some - in my opinion - nice options. I just recently started a new job and I had a brand new Macbook Pro up and running (as in: ready to start working) in less than 30 minutes.
A good tip is to fork it and modify it to your liking. At a new computer you can then just pull down your version and install away.
The only default that's missing is Sublime Text.