I would really recommend that you toss out the cash for something above decent, in the $300-$500 range for accoustics.
I'd agree with the concept of not buying cheap but that is a relative term. When I was a teen my parents bought me a "cheap" guitar that was a no namer from Sears. Hated it.. Didnt want to play.
Grew up and bought myself a $125.00 Montana that most would agree is cheap, but it sounds awsome. Recently bought a $600 Ovation and while I love playing it, I actually love the Montana more.
Have one of your friends play it a bit. See what they think regardless of the price tag.
Jim
“The hardest thing in life is to know which bridge to cross and which to burn” - David Russell (Scottish classical Guitarist. b.1942)
I agree that you can find very playable guitars in the $100-$200 range. I recommend the $300-500 range simply because under that you tend to have to look on a guitar by guitar basis, as the quality control goes down considerably.
The average $300 guitar is usually no better than the very best $100 guitar, but you don't have to play 10 in the store to find that one really special one.
"The music business is a cruel and shallow money trench, a long plastic hallway where thieves and pimps run free, and good men die like dogs. There's also a negative side." -- HST
