First guitar

Hey all, I decided a few days ago that I want to learn how to play guitar so I went out and bought an ESP LTD M-10. It was cheap $300 (150 of your fancy U.S dollars) and I'm just wondering if this is a good guitar to learn on. From what I've read online ESP make great guitars and although this one is cheap it seems pretty solid.

I imagine that it's probably better to learn on a good quality guitar and not a cheap one but I don't have the cash to spend on anything better as things are expensive here in New Zealand and guitars are no exeption. So yeah, does anyone know much about this guitar and do you think it's ok to learn on or am I doing myself a disservice?

The main thing is that it's setup well ie action not too high, intonation correct, neck OK. It might be worth spending another 30 USD and get it professionally done. But the make is good for sure. ESP make some cracking electric guitars.