Tyler, I stepped into a toys r us a few hours ago to check out the said bike. They didn't have the exact model but, they did have one that looked nearly identical except for V-brakes.
Let me tell you about a bike I got for the sole intent of turning it into a power-assist
Most of the bike I've purchased were used, this one is no different. Trouble is I felt it rode around too well to ruin it by adding a motor and stuff. The bike cost me 300$ can. When I got it it needed some attention, I ended up changing the grips and shifter rubbers, put bigger semi-slicks on instead of the knobbies, installed bottle cages, a new chain, new cables & housings and decent brake pads. And voila.
It's a '98 Oryx Équipe 7000ds, made of 6 & 7K aluminiums, it's got an 8 speed XTR rear XT front driven by Yeti shifters, 4:1 overall transmission ratio, It's got a shimano roller clutch that's silent and grabs just about as soon as you start turning the cranks, regardless where they are. Cranks are White industries. It's got a dual crown front RST Hi-5 Mozo, that is to say, from before RST got bought out and became crap. Rear shock is a Rox Shox coupé deluxe, nothing to write home about but still eats up anything out of a department store, 5 inches travel at both ends. Rear rim is some german double wall w/ss eyelets, in the front is a cheapie Rigida. Front brake is a Shimano LX, rear is a cheapie aluminium V and I've put Kool-Stop salmon pads on both ends. The brake levers are different, I expect one of them got broken off at some point, but everything in the brake system is made of metal, no plastic here, and these brakes have eaten up every mechanical disk it's been up against, although I'd guess something like a MX1 would beat it. I'd like to try, but it seems people go hydro before wasting money on high end mechanical disks. Anyways the whole bike weighs around 35lbs, and it's rather decent. Quite pleasant to ride around, too.
This is what it looked like when I got it:
http://i2.photobucket.com/albums/y46/200164259/oryx.jpg
For 300$, the Wal Mart bike with suspension at both ends is absolutely no contest whatsoever.
So, I'd suggest you went in a bike shop to examine quality bikes, see how they're made and what they look like, to see what to look for, so you can know what to avoid. Then do pawn shops, craigslist, flea markets etc. until you find a good bike that fits you. It may take a few weeks, but it's worth it. Look for something that doesn't have obvious signs of wear, damage from accidents or rust, and it should be pretty easy to do whatever maintenance may be needed from there.
Here's some mechanic stuff that'll show you how to install new brake cables and such if you don't already know, it's quite easy.
http://www.parktool.com/repair/
Also the early mountain bikes are pretty cool if you can find a good one because they have a semi-road bike geometry with really beefy tubes and eyelets to install things like racks and mud guards, my Oryx lacks that. Unfortunately it seems fluorescent colours were popular for bikes in the late 80s... (hint: mongoose hadn't sold out yet back in the 80's, good bikes if you can find them)
It's really important to have a bike that fits you, other wise it's a bad value regardless of cost. A bike that doesn't fit you will be uncomfortable on anything but short rides, it'll hurt on long rides, and in the long run it can cause injuries like swelling, pain, numbness... Been there, done that. If you bought a given bike model from a good bike shop, they'd measure you up, use the best matching frame size, stem, seat post etc. And generally adjust it to make it fit you, although it would take a few more weeks of fine tuning to get right, but it's not unreasonable to think about changing the stem to fit a used bike to yourself. Also the one-size fits all department store bikes may not the optimal choice for fit.
Though if I have to chose, I find too big a bike is the lesser of two evils because the big bike generally rides along well and causes burning pain behind the shoulders and in the neck, the small bike robs your power away, feels all squirrelly, hurts your knees and makes your wrists go numb.
This fit calculator should give a good idea what to look for.
http://www.competitivecyclist.com/za/CCM?PAGE=FIT_CALCULATOR_INTRO
