Well, again, I'd like to point out I've only used this for a while. I know people who grow wonderful plants in cypress mulch, which is very much like cedar mulch. What I like about it is that it holds water better than orchid bark, and makes it unnecessary to use much peat or sphagnum at all. You can see that it's shredded material, and it soaks up water pretty fast. And it's a lot cheaper than orchid bark. You do have to rinse it thoroughly, though.
Chrono - in this batch, there's a handful of peat moss, but not much. Otherwise cedar mulch and pumice.