* Prices may differ from that shown
This product is quite split in terms of its features and problems, so it definitely depends on what you want in a printer to decide whether it's good or not.
Firstly, physically it is quite compact and very lightweight. It comes packaged in an easily carried (durable) cardboard box, which is also good for long-term storage. Normally, the printer will fit easily on your desk - I keep mine on the floor to save space though.
In terms of ink, it takes 2 cartridges, one black and one colour. The colour currently retails at around £25, whilst the black is about £16. Unlike other printers, you don't need both cartridges for it to print.
The printer is very easy to install: just connect it to your printer or laptop via the USB cable and you're ready to go. You don't need to install any software.
In terms of speed, it is reasonable, and can be adjusted somewhat by selecting the quality of your printout ('best', 'draft' etc.). However, whilst this is a good printer for text, images are a bit hit and miss, particularly large ones. It is not good for printing photos or any pictures with a lot of detail, or large images. There are problems with blurriness and horizontal badning, even with frequent cleaning.
Though the features themselves are quite limited, it does the basic job. You can clean it, align the printhead with the cartridges, do print tests etc.
One problem I have had with it is that it is not always recognised by my laptop that runs Windows Vista, which means I have had to reinstall it repeatedly. The message box informing you about problems and ink levels does not appear, which can get very frustrating when you are waiting for something to print and have no idea why it isn't.
The printer is also prone to paper jamming, which requires removing part of the back of the printer to fix, which adds a considerable amount of time to the overall print time.
This is a good, cheap, space-saving product for those who print infrequently and/or who mainly print text rather than images. Fast printing and high quality colour printing you should do somewhere else.