Up to a certain point, you get what you pay for. If you have ever had a guitar before, I think you'll likely be disappointed by the guitar you link.

I second LATS suggestion to buy used. I pretty much always do... more because they don't make the guitars I like any more (80s Ibanez addict) but it's nice that the guitars have a history. It also saves you being upset when you ding your shiny new guitar for the first time... someone else has done it for you... :)

I've had (with one exception) great results from ebay and the local pawn shop. Maybe a nasty thing to say in these economic times, but people seem to be selling their guitars quick and therefore cheap, presumably needing the money for lifes necessities. Bargains are out there.

If you really have to have an LP style guitar, look for a used epiphone. Less than that, and even for $100 you'll want the money back.