I was incredibly surprised when I received my guitar. I picked it out of the box and it actually played pretty well. I didn't expect much of a guitar in that price range, but it is a actually good guitar. It needed a setup and some new strings, but the acoustic sound is fine and I have had no complains from sound techs, so I take it, that the pick up is doing a good job as well.
As all new acoustic guitars, this one needs to be played a lot, before you can really judge the sound and the feel. When I received it, it sounded rather thin and didn't have the most pleasant mid range, but after playing it for some time, it has opened up a bit, and I'm sure it will become a good-sounding guitar once the wood starts to set.
At this price, I have no reason to complain. I highly recommend this guitar if you need your first acoustic guitar, a back up for your 1st choice or simply just a guitar for the beach house.