If I were looking at the budget end of the spectrum, I'd get nothing else. It's meant to be a scorcher of a lens for the money. I know a few people who've kept them right up until they moved up to L glass. Definitely go for it.
Excellent lens; I have co-ownership of a 70-300 IS, but generally use this one instead. If you were looking to do serious wildlife or sports photography, you'd want longer and/or faster. However, for dabbling around in it, a fantastic lens that is worth far more than the money you'll pay for it.