To start with:
I recommend getting the Liaoya Premium Bandai version instead, which has this entire kit, a sword, a stand for the sword and parts to attach a cable to the shield and the sword.
Liaoya contains everything else that is in this kit, except for the dry transfer and sticker sheets, but instead you get waterslide decals, which have some differences in motifs.
There are no other differences, you still get the trident and "dragon head" that are included in this and you can opt not to build the new parts, if you wish. Liaoya has the same colors and details, it's just the waterslides and the extra parts, but it makes it a little more special.
Some details and information about the mobile suit (skip if you are not interested in the history):
Endless Waltz is the sequel to the TV show/anime (and manga) "Gundam Wing". In addition to being a sequel, it is also a Hajime Katoki redesign of the five major mobile suits (Wing, Heavyarms, Deathscythe, Sandrock and Shenlong) as well as a couple of others. That means that all of the EW kits are literally "ver ka" kits, even if it doesn't say so on the box.
Where things start getting a little weird, is that "Shenlong Gundam EW" that this kit represents, never existed. Rather, in the story the Shenlong is rebuilt into what is called the Altron Gundam, of which there is also a Premium Bandai version, which is the correct EW kit.
This EW version of the Shenlong, is what it would've looked like, had the TV version always been like this, but in EW the pilot (Chang Wufei) uses the Altron Gundam, which is a green version of this, with extending dragon arms.
The 'Liaoya' was added in a new sequel of manga called 'Glory of Losers', where THIS Shenlong is used, but with the sword and not the trident. So in short... this mobile suit technically doesn't exist anywhere, except for in plastic kit form.
To add a little more to the confusion, both the Altron and Shenlong are references to the "Dragon Gundam" from the anime "Mobile Fighter G Gundam", which is a green chinese Gundam with extending dragon arms that breathe fire, and also has a beam staff weapon.
Shenlong EW features the classic red, blue, white and yellow colors with a grey inner frame and green lenses and effect parts. Gundam Wing mobile suits are a bit smaller, at 16½ meters, while the granddaddy RX-78-2 Gundam is 18 meters tall.
The kit is a bit less undergated than the other ones and it shows a lot around the shoulders and calves, so be careful when removing gates/nubs. I recommend a glass file for the job.
The included sheets of dry transfers look good, while the stickers are 'okay', but not very nice looking on darker plastic like the red and blue.
Proportionally, it's a little squat with chunky legs, which is typical of 'Wing Gundam' designs. Since it literally doesn't exist, it is true to the same style that the other Gundams have and what this would've had, if it was in the show.
Mechanics and Equipment:
The main feature of this Gundam is its equipment. The model itself doesn't do anything. It has a cockpit hatch and that's it! The articulation is on par with other EW kits, it does nothing worse or better and is average. Nothing bad, nothing that stands out.
The main attraction and feature of the Shenlong Gundam has always been its extending flame thrower 'dragon head' arm called "Dragon Fang". It is attached to its right forearm and flips down to cover the hand, making the arm end in a big dragon's head with fangs and flamethrowers on the side.
Unfortunately it can't extend like it does in the TV show, rather you can pull it a little forwards by a couple of milimeters. This would've been a hard mechanic to replicate and it is unlikely that the future HG TV version will have a proper 'Dragon Fang' either, sadly.
However, the one that is on this kit does look very nice and the mouth and side fangs are articulated.
The Shenlong also comes with a Beam Trident, a staff that ends in a large neon green trident effect part, which can be stored on the back when not in use.
On the left arm is the attached shield, which has no features, unfortunately (the Liaoya version has a cable that can be reeled in, connected to the sword, not in this kit).
Only a few of the Wing Gundam kits actually do anything, but where some of the others might lack some equipment, they at least look interesting. The Shenlong is maybe a little too generic - It's a Chinese martial arts style close combat Gundam.
Like I said, get the Liaoya instead to get that little extra on top (The sword really makes this stand out) or the Altron instead for a completely different experience, with actual extending dragon head arms!