Yes. If you rented the game and decide to keep/buy it Gamefly will ship the case and contents inside to you free. It will include everything that it would have if you would have bought it new at any retail store. I haven't ever bought a game without having rented it first but I would bet that they send you a brand new copy. As for the code, Yes It is included. I know this from experience, You need not worry. I just bought Halo Reach and all necessary codes for online play were included with purchase. Forza Motorsport 3 was another game that requires a separate disk and code for online play and I received everything, just like I had bought it at Best Buy or Wal-Mart. Hope this helps.