Hi guys. Sorry for bumping this ancient thread... Looks like I trying to resurrect dinosaurs. Just my 2 cents.
I've had that specific $30 tent before I upgraded to a $300 3 person tent from REI.
My belief is if buying the $30 tent will get you outside sooner, buy it! I've spent a handful of nights in it with a buddy, and it definitely gets the job done. One time we decided to set up on an exposed hill, and it just so happened that a surprise storm happened that night. The fly held up decently, but it was not guyed down and eventually came flying up, but that's partially due to the stake bending and the tent corner coming loose. Had we known how to set up a tent properly, and taken the proper precautions, we would have been fine.
Although as it's not a full fly (the fly doesn't reach the ground) you are likely to get wet if there's heavy rain and/or windy rain. Also, there was a lot of condensation, but not too bad. Plus the one door on the side is a bit annoying but do-able. Plus, as the fly doesn't reach the ground, there are no vestibules, which can be a problem. Also, the poles are fiberglass, so on the night of the bad storm I told you about one of the poles shattered, and fiberglass splinters in your fingers can be pretty painful. A bit of duct-tape fixed the pole, although it's not a tent that can handle harsh conditions at all.
All-in-all, I think the $200 tent is definitely worth it, as the added comfort and security really makes a trip better in my opinion. But there's no harm in trying it out, as, after all, it's only $30.