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It works out around 1/5th of what I paid for mine when I bought it. Check out my flickr site if you're worried about the quality of the images you can get out of one. Sounds like a bargain to me.
You'd need to check back through to the earlier ones. Most of the stuff since December 2007 has been with the EF-S 17-55 f2.8 USM IS. Plenty of the earlier one were with the the kit lens though. Like this one for example --> Reflections
Optically, it's not as bad as people would have you believe, but to be truthful, it is a little lightweight and perhaps not the sturdiest lens on the planet.
Good way to put it, really. Though I did see the camera that Psalm was talking about, at Walmart for roughly $190. So, meh...I dunno. I am a Canon guy, and can't bring myself to go to anything else. But I am looking at the XTI, or the 30D which I can use my EFIII lens on; because I also think the EF lenses are better, and more sturdier.
Shoot $190 is a great deal b/c Walmart is now selling them for $500
Where can I find great but inexpensive lens...lol