Pretty good for the price
If you can pick it up for cheap I would say grab it. I like the lightweight packability of it and would keep it stashed in my backpack at school for unexpected downpours.
I may have an old version of this jacket, but the issue I ran into was with the front pockets. Setting up a tent in a downpour I got totally soaked by the rain running from the top of my back and into the pockets. Not really avoidable with non-waterproof zippers, but I am going to be stepping up my rain gear for the next time I am going to be in the backcountry for an extended period of time.
In most cases the jacket held up pretty well in heavy rain as long as I was standing upright.
The only other thing I don't like is the feeling of the material against bare skin. It gets pretty sticky even with just a little bit of moisture on either side.
I wear a medium (5'8" 175lbs)