I had three of the fed 2 and a full set of lenses. Before you read on know that I am a retro guy, so the clumsy controls and pain in the neck lens changes weren't a big deal to me. However, if you plan to shoot quickly, to bracket alot, or don't like a hand held meter, you might want to consider something else.
That said, I had one fed 2 with a wrinkled shutter curtain, and all them had less than bright chrome. The lenses were adaquate but you need a special viewfinder to shoot them, and even that wasn't all that great in my opinion.
They made good pictures and they look nice sitting on the shelf. I would use one today, if I just wanted to look cool. The images I got were acceptable, and the cameras were cheap.
The story on all russian camera is that during world war two as the red army overran germany, they disassembed whole pants and moved them to mother russia. The Leica plant fell into their hands. The Russians had the Machine tools and the technology from those plants but lacked the skilled labor force.
They are all way out of date and even the more modern zenits, and the like, suffer from poor quality control. All that said, where else are you going to buy a 35mm rangefinder for under fifty bucks, with a half decent interchanbale lens system. I have some rangefinders that I like better, but they don't have the interchangeable lens.
The Russian camera industry was built on the Fed zorki tradition of knockoff.. With a couple of medium formats, they went that way as well.