Note that this is not a watered-down course! It's the same course as the students at Caltech are taking, and in fact they will have the option not to attend the lectures and watch them online instead. The homework assignments will be the same ones as well (AFAIK).

I've taken the previous (non-edX) version and this is by far one of the best and clearest MOOC (and even offline course) I've taken.