Well I have one very cheap guitar, a Harley Benton CG-45 NS. It is the cheapest one they have, cost me 45 Euro. Now it is at 49 and there seem to have been slight changes, judging from the pics (headstock more rounded for example) but I will assume that it is still the same overall quality. It has a slighly smaller body, very folkish and of course it is no miracle, but for the price it is bloody great. It is my dedicated camp fire guitar. Gets the job done nicely, most people actually tend to say that it sounds better than whatever they have at home and if it ever were to actually land in the campfire the loss would not be that great.
By now I have actually exchanged the bridge and before that the bridge pins, the later of which actually seemed to have made the bigger difference in sound. These parts are really cheap and light plastic. Side that I can say that for the money the build quality is not bad I feel, have seen worse on much more expensive guitars.
Action is maybe a bit on the high side depeding on what you are used to, but that only really affects the higher frets.
All in all I can highly recommend it.
