Welder Advice Needed

I'm thinking of picking up a small MIG welder from a liquidator. At my previous employer we had a MIG set up w/ a gas cylinder. This el-cheapo version appears to be strictly electric. I have 220 service in the house & garage, but is it worth buying for small projects? I'm not looking to build chassis's... I'm just looking to build simple stuff. I've never been educated on the differences and what to look for, and avoid, in in-expensive welders.

e-Bay # 360263419012

Thanks gang.