Simple answer, no you don't need all that stuff and yes you are overpaying. I think you would be way better off buying some bulk CEE (recommendations: TrueProtein.com , NutraPlanet.com, BulkNutrition.com). Really all you are interested in is the benefits from the creatine so everything on top of it isn't neccessary.

If you really wanted some of the other ingredients I would again recommend buying them individually in bulk. Stuff like Taurine, Glutamine, etc are really cheap by themselves so there is no point in paying such a high price per pound for this stuff. And you can just get some malto/dextrose to replace the "insulin stimulating carbs" in the Creafuse, which I am guessing is just a clever name for dextrose.