First off, this tank is not appropriate for any fish other than a betta. There just isnt enough water volume for anything else to survive, despite the picture on the box. If you try to use this for Tropical fish or goldfish, you will probably end up with dead fish in a few weeks. You could also use this for invertebrates like snails or maybe one fiddler crab. But as far as fish go, I would stick to a single betta only. Dont buy fish bowls. This tank is certainly far superior to any fishbowl you could buy, and will end up being about the same as what you would spend on a fish bowl.
That being said, this actually makes a very good betta tank. The filter is small but more than sufficient for a 1.5 gallon tank. It comes with everything you will need except gravel and water conditioner. I like the transparent top a lot, as it lets in ambient light really well. This is a great tank for your desk if you work in an office.
It is made of plastic, not glass or Plexiglas, so you need to be careful about scraping the sides as it can be scratched. The top comes off easily if you want to plant lucky bamboo in the tank for a nice effect. Live plants in general are always a good idea with fish, as they eat waste and oxygenate the water. I have Java ferns in mine attached to a small piece of driftwood.
It does come with an LED light, which is not great. It is more like a spotlight than a lamp. So if you need a tank with a dedicated light source because you dont have good ambient light, this may not be the tank for you.
There is a drawer in the base you can use to store stuff (water conditioner, extra filter pads ect..). The tank comes with "handles" in the base which I would normally think is odd for fish tank, but it makes sense because the water volume is so low that you can just pick up the entire tank and take it to the sink when you need to clean it.
Cleaning should not be a huge deal. Do not overfeed your betta and you will be fine. Bettas should only be fed a small pinch of food every other day. Bettas can live just fine being fed only a few times a week. Most people overfeed their fish, which leads to a lot of waste (and can lead to digestive issues or even death for the fish). If you feed them properly, you will have little or no waste to clean out. Normal water changes (once a week at least) should be all you need. As always, make sure any water is dechlorinated BEFORE it comes into contact with your fish.
It would be nice if they made a version in black, but besides that, this is probably the best all-in-one solution you are going to get for under $30.
*** Update Feb 23 2011:
As predicted, my Betta has thrived in this tank. He loves it. A lot of people on here seem to think this is too small a water volume for bettas, but remember where they come from; Betta's can actually get stressed in too much water because they are territorial...if they cant "patrol" the whole volume easily it is going to stress them.
This tank is plastic, and scratches easily. Even with paper towels. My solution was to use a microfiber cloth (lens cloths sold for eye glasses work very well for this). I have been cleaning it about once every few weeks to get rid of algae, and it is working great. It still looks brand new.