Containing just 14 pieces (4 of which are used to make the minifig alien) it's the Space speeder. See this, this is what I remember Legos being about. As a kid I rarely got the big Lego sets, I usually got one of the smaller sets, like this, which contained a minifig and a token vehicle, like a motorcylce. (Man, I want a Lego motorcycle.)
As a vehicle, the Space Speeder is pretty unimpressive. But the minifig is cool, and that' usually the reason to get these smaller sets.