If it's a non-NZ new one - then yes, that blob is the basemap. The NZ new ones have a much more detailed (but pretty inaccurate) basemap. When you turn it on - it should tell you which type it is - e.g. Pacific/America/Atlantic.
If it's an older black and white Summit - it will be somewhat compatible. See the FAQ -
http://www.gtmaps.co.nz/faq.html.
Yes - you will be somewhat limited - but with 24Mb - you will get around 150km x 150km - depending on how mountainous it is. More mountains = more contours = more Megabytes.