I was also thinking about this one because of the 30+ awesome reviews, but the colours aren't that pleasant.
I had a Walmart single speed bike called the Genesis which was made by Kent (same company that makes the Takara you linked. It seems that this is their new "track" model.
I got that bike on sale for $110 shipped and that's the only reason I bought it. It was my first single speed and I thought this would be a cheap way to try riding one.
It was heavy Hi-Ten steel and I ended up changing most of the parts on the bike (crank, brakes, handlebars). I probably could have bought myself a Kilo with all the money I spent, but I did have fun with that bike all summer before someone stole it.
I wouldn't buy that bike again, especially for $200, or if you plan on upgrading parts.
I now have a Kilo and am happy with it. The difference is noticeable.