Summary
After using this little inexpensive radio for a month, here is a summary of my thoughts on this radio:
First, it's a $50 radio. If you keep your expectations inline with the money you shell out for this thing, you probably will be quite happy. It has no "bells & whistles", but it does just about everything a basic 2m/440 radio needs to do. If you are within range of repeaters that you can hit with 2 watts or less, the radio makes for a small package that be stuffed in a pocket and out of the way.
The menu system is fairly similar to other Chinese radios like the Wouxun, and it's not that difficult to figure out. Like other Chinese radios, there are no auto offsets. The speaker/mic headset accessory is junk, so you need to find something else if that is an accessory you need. There are some remaining questions about whether or not this radio meets the FCC spectral purity requirements on the 2nd harmonic of 2 meters, although with the stock antenna, I seriously doubt it's that big of an issue for most users. The programming software is simple. The battery is a common camera battery that is readily available. The shell is easy to replace, so if you beat it up, just buy a new one for $6 and change it in 5 minutes.
All things considered, it's a cheap way to get on the air and, at the price point I wouldn't be surprised if every ham ends up buying one to add to the arsenal.