>>2” x 2” sterile gauze pad

From personal experience, a single 2" x 2" gauze pad won't do much for anything beyond a small, probably superficial injury. Even a simple case of road rash will require a minimum of 2 4"x4" pads - more if you expect to change the dressing.

>>Tube: Foille ointment

I'm not familiar with Foille ointment - what's it used for?

>>Glass applicator tube of iodine
>>Ammonia smelling salt

I'd lose the smelling salts, personally - we don't teach that in First Aid and I can't think of a reason I'd ever want to use them. Plus, if it ruptures, then your entire kit is contaminated with ammonia.

>>Round magnet

Again, just out of curiosity, what use do you foresee for this?

>>a morse code key

I wouldn't bother with that unless you planned to use it anyway, e.g. for mobile hamming. In an emergency, you should be able to jury-rig a key if necessary (it's just a simple contact switch, after all). If you're planning on carrying a small SW ham radio, and you really want a morse key for it, I'd consider getting one of the small credit-card size iambic paddles.

>>I decided that it was probably more realistic to focus on first aid with this.

My humble advice is to think about the type of first aid you will most likely need to be performing. My personal philosophy when it comes to FA is that I'd rather have lots of what I'm likely to need, rather than have one each of everything that I might *possibly* need.