What am I missing out on if I only buy guildwars factions?

I uninstalled my copy of guild wars last year and now I wish to start playing again, but I unfortunately cannot find my installation cd, and I don't feel like buying another copy along with factions for a grand total of 80 something dollars. So what am I missing out on if I only buy factions? Will I only have access to the skills in factions or what?

You don't need the CD to install GW, just go to the www.guildwars.com and download the client (free) and install it. If you can remember the email and password you used to login, you're good to go.

But to answer your question, there will be some skills that won't be available to you if you only have Factions.

I hate losing my discs. I always make sure that I have my installers and all that jazz on back-up so I never need them.