if you can afford at least another $50, i'd keep looking.
i'm sure it's a good machine for the price, but i think it would not be much fun to use for quilting. the throat (area to the right of the needle) is one of the smallest on the market. if you plan to do your own quilting, it will be difficult on anything larger that a wallhanging.
if you shop around online you'll find oodles to choose from.