is this a good guitar? i am just wondering because it is really cheap and i figured peavey makes good guitars.
As far as 100 dollar electric guitars go, you could definitely do worse

They are really hit and miss though, some play well and have good action but others are just very poorly made. try to see if your local guitar center or sam ashe has em so you can play them before hand, if your looking to get it from a retail store (target or walmart) be prepared to take it back and/or exchange it (Lie and tell the the output doesnt work or something)