Anyone else have a Merrill Lynch 401K?

I have signed up with Merrill Lynch for the SIP (savings & investment plan) offered through my employer. I put in 6% -- they match it. Usual stuff. Although, when I went to split up my 6%, I didn't understand the GIGANTIC page of investments. Do I go through every single one and look at performance to make a decision as to where to invest? What about the high risk/aggressive investment package? Is it a good idea?