Level 7For me LG is not a well-known cell phone manufacturer (like Samsung or HTC). And about your question, I don't find any common problems. If you like it, take it. But if I were you, would look around for some other brand. :)
Level 3If you don't mind the low res screen, not-so-good camera and lack of Adobe Flash support it should be fine, but I wouldn't expect any wow's, after all it is a budget-friendly device. I guess it always goes to the price you'd like to pay, but do check what Samsung or HTC has to offer in the same class. Oh, and LG Optimus One does worth a look as well.
In-depth review for some more insights how the device performs: http://www.phonearena.com/reviews/LG-Optimus-Me-P350-Review_id2696