thanks for your responses. here are mine:
as to butterfly bandages, i can't imagine going without them. i have had a knife cut bandaged with one while camping, and i have also 'saved the day' with one of these from the kit once or twice.
i don't think gloves are going to work, because one pair would take up about half the volume of the box.
i'll take you guys' advice on the smelling salt.
i'd add more guaze, but nothing bigger fits (maybe cloth can be used if needed).
the Foille Ointment is old stuff, probably not around anymore. it is labelled as an analgesic and antiseptic for burns and cuts.
i decided to add the magnet for 2 reasons: it holds the needles neatly in the kit; if the crap compass i have [couldn't find anything better] fails, it can be used to make one out of a needle.
for the morse code key, i had imagined it being more likely to be used with light rather than radio, but perhaps even that is unrealistic. anyways, it's just a piece of paper, no reason not to have it.

a side note: after i wrote that post, i tested it again for buoyancy because i had changed some things. what i found is pretty funny: the box floats, but with the addition of the steel carabiner on the strap, it does not. when i went back to a weaker (but lighter) aluminum one, it floated. i'm glad i checked--it's funny to imagine the box being pulled under by the carabiner on the end of the strap.

thanks for your interest guys