Just basing my answer on the fact that it is sold by Wal-Mart, I'd say no it isn't.
You get what you pay for though. It is probably best if you spend more money up front at an LBS for a higher quality product you will not have problems with & have to replace parts or have constant repairs done to it.
Also, unless your wife asked for something like a trainer I would not buy one for her. She might think you are calling her fat & needs to exercise. It is akin to getting an treadmill or other type exercise machine with her requesting one.