A PAID value comparison: for the same $185, buy one full set of packs 1st->5th once, versus the $4.99 first pack 37 times. Verdict: buy the 5TH (full set) if you want the exclusive Golden/Epic Historic General, Dragon Scroll and Achaemenidae Scroll, or if you're in a hurry (37 first-packs take over a month at one/day). Buy MANY 1ST packs for maximum Gems, Stamina and Refining Stones, and to maximize the free Limited Time Promotion bonuses. At $185, 5th set vs 37x1st: 5th wins on VIP Points (45,500 vs 37,000), Resources (934M vs 869.5M), Speed Up (344d vs 159d), Gold, Lv5 Material, Research Stone, Tactic Scroll, Soul Crystal, Monarch/General EXP (2.19M vs 1.48M), and gives the exclusive general, Badge x100, Dragon Crystal x100, Dragon Scroll x2, Achaemenidae Scroll x2. 37x1st wins on Gems (962,000 vs 545,500), Refining Stone (11,100 vs 6,900), Runestone, Stamina (259 vs 102), Adv Troop March Speedup (296 vs 173), Adv Royal Waybill (37 vs 10), Chips (37,000 vs 5,000). The bundled Limited Time Promotion strongly favors many 1st packs (~592 days speedup vs ~105). Caveat: double-down coupons make buying all 5 at once give more of nearly everything. For a bot: 5th for the exclusive general/scrolls or speed; spam 1st for gems/stamina/refining stones and promo bonuses -- but this is paid-only, so a mostly-F2P bot treats it as informational.
Original research source: Evony Guide Wiki