That sounds like a really good buy to me. I use a cheap electric kitchen grinder, with good results. Many on this forum say you should buy a bigger, more expensive kind, but I disagree. It is important to know how to use the grinder properly, and to understandits limitations. With mine, I have to cut the meat into relatively thin strips, about an inch square, but no limitation on length. Occasionally when I'm grinding, the thing will get "constipated", and I have to disassemble and clean things out. This happens if I run too much sinew and fat through it.

Yesterday I ground over 20 lbs, ran through twice, took me about 2 hours. Good luck.