It's a fair deal, from what I can find.

I personally wouldn't bother, I'd scrape up a bit more cash for something more tried and true. Yamaha Pacifica, or a Squier Standard probably.
Spin 'round carousel when your horse isn't screwed in.

My band:
Fractured Instinct
(For fans of Death/Groove/Prog Metal)

Ibanez RGA42E
Ibanez S420
LTD H-301
Ibanez RG520
Peavey Predator USA
Douglas Grendel 725
Line 6 Pod HD500X
For $40 I would give it a shot, though all ways check it to make sure everything is okay such as neck warping.