I do not have this exact model, but I do have one very similar, also made in China (of course) and probably with the same basic components.
I got mine to replace stove-top ones when we decided to radically re-purpose our kitchen and the stove went bye-bye in favor of induction plates and a miniature Nesco roaster. We also have a hot air cooker for the occasional turkey. The pressure cookers were not usable on the induction system.
The electric pressure cooker works great, is easy to operate and clean. Do not worry about urban legend of aunt Tillie’s roast hitting the ceiling, etc.
I would caution that the cooker MUST be accurate if you are canning (I am not!).
Canning is deadly serious business and if you mess up, you can kill your family with botulism. In some areas there are home extension specialists who may be able to advise you.
But for roasts, borscht, rice and many other things, this is a good investment.
Please note that I have seen new units (not the same one) for $50 at wally mart. Compare features.