Peavey is usually solid enough gear. but when you're going for the cheapest possible it's easy to get burned.
if you're buying it from a store make sure the tuning pegs are solid and the neck is straight. generally speaking at that price range nothing else will really make a difference aside from the look.
if you're planning to buy it online then check the reviews. with a cross-media franchise
PR stunt it's hard to say just what kind of quality you'll get.
ultimately if you just want it to fool around at home with a little more volume than an acoustic then any starter kit will do while you save up for something really cool.