Good point, RavingManiac. Accountant, the cheapest thing to do is get the spoke replaced.

However, yes, I think that wheel will work. It's probably not the best quality at that price. It's also steel, so it will be heavy. You will also need rim tape (3 or 4 bucks) and the wheel will probably need to be trued at the bike shop (5 or 10 bucks), unless you can do it yourself.