Alright, looks like I was wrong:
You don't actually get a physical copy of the game, just a "NES-Style box" along with your digital copy. I could've sworn they said something about it, probably because they said "real, physical box", but today's update says that "there is not actually anything inside the box... except our hopes and dreams!" If you paid $50 in hopes of getting a physical copy I apologize, but I believe you can lower your backing amount at any time before the Kickstarter is over if you're not satisfied.
They revealed another Knight today, too:

So I guess I was wrong about what he'd be.
(Unrelated note: The image above automatically put "width=1000" in the image tags, and I don't have any forum-related extensions installed...is that some new feature Badspot added to help reduce horizontal page stretching?)
Remember: Shovel Knight needs your help on
Steam Greenlight! "Steam Greenlight picks their next batch of games next week, and we haven’t even gotten to the top 100 games."
And last but not least,
Yacht Club will be having a livestream during the last 24 hours of the Kickstarter tomorrow at 8PM PST.