I would recommend against it for that price. It may not even get the job done for you in the first place and for a little more you could get a MUCH better mill, brand new. Check out LittleMachineShop.com. I have the HiTorque mini mill they have. It is a pretty good machine and you can add allot of options later if you wanted to. Keep in mind you will have to buy quite a bit more stuff than just the mill.
One thing to note about that HF mill is the spindle will likely have more round out than most would like and with that drill type chuck, it will be pretty bad as that chuck probably has a horrible round out tolerance. You will want to switch to collets before milling anything.
I would say if you are milling nothing harder than aluminum you might be OK with that machine but if you want to mill any SS or even possibly steel than I would pass.
(EDIT: looks like he was posting at the same time I was typing. Note: not sure if the kit he is linking to will work for that mill.)