Menu item choices for the McPick 2 menu include the McDouble, Small Fries, McChicken, and new Mozzarella Sticks. Here in Southern California, the Hot 'n Spicy McChicken (a regional item) is also included.
Items formerly listed under the Dollar Menu & More including the $5 20-piece Chicken McNuggets now fall under the McValue menu.
As long as you don't mind going in for two items, the McPick 2 menu actually represents some savings over the previous value menu, where all but two or so items were more than $1. The normal/value price range for the McPick 2 menu ranges from $1.19 to $1.59 in my area.