Touch screen is very nice, we have only begun to see this on GPS models lately, and it's very convenient for automotive use.
3.5" screen isn't that big, but it's plenty for a GPS system.
Pre-installed maps don't give a whole lot to it, but are nice to have just in case.
Mp3/photo capablity with SD card is pretty good, you can always listen to your mp3's if you're stranded alone with this thing. Not sure if you'll really ever use it for this (You bought it for the GPS, not the music), but it's there just in case.
Froogled it and the closest competitor was $200. Not a bad price.
Good that it's new and not a refurbish, but you better hope it comes with a manual, or you'll have to get the online version (if it exists), or fiddle with it for days figuring it out.
All in all, not bad, I'd say 8 out of 10.