First off, while I can't remember the exact price (either $189 or $229), it was certainly reasonable. I bought this through HSN; at the time, it was sold with no additional feet. This is a 2,3,4 thread serger, no coverstitch capability, that does rolled hems, overlock, flatlock, and mock safety stitch.
I set this machine up the day after it was delivered, and unlike many other sewers, I immediately used it, not for serging edges but for construction. Using a 2-way ribbed stretch knit with mock safety stitch, I created a pair of pants for me (not so great, but it was either the pattern or me, not the machine) and a self-drafted mini-skirt for DD, which came out great. Didn't use it for a while, then began serging fabric edges and seams, and more construction.
The machine is extremely easy to use- the operater's guide is clearly written, the machine is not complicated to thread, and, for this serger newbie, it was a great introduction to a serger at a very good price. I've had no problems at all except for a few broken needles (my error).
Not really about the machine, but I wish it came with at least one other foot. It seems the feet are only available on the Singer website, and they cost a little more than I am willing to spend right now.
All in all, a really good buy!