I'd skip on the Varsity, and take a slight step up (If you could afford it) to get the Schwinn Tourist from Target. It's $250, and avoids the "Walmart QA" process forced upon suppliers for Walmart.

It's the bike I ride, and don't regret it. Needed derailleur adjustments, but that's it. I've put on at least 700 miles thus far in 2 months, and not a problem yet.