I called and requested my tax transcripts, but the person on the other end of the phone told me that the tax transcript is really just the first 2 pages of the tax return...basically just the 1040. Is this correct? I was expecting it to include the information for everything in the return in some sort of summarized format.

It is a summary, and much smaller amount of paper. I would get the transcripts cause they are good for a long time.

Ok. The thing this guy sent me was about 4 pages each...sort of cryptic looking and has 2 short pages of information from their system printed out on each page of paper. There are no W2s, 1099s, schedules, etc. Does this sound correct?

Yes. You're good to go. You don't need W2's. The transcripts show the official summary of what the IRS has on file.

Thanks!!!