Real (the company) no longer exists, from what I can gather. I can't say I've ever heard anything positive about their hubs, but then again I haven't heard much about them at all. I would say go for it based on the cheap price as long as you don't mind rebuilding your wheels if they don't work out . If you're going not (re-)building your own wheels if the hubs fall apart, factor the rebuild cost into the equation of a failed experiment in those hubs.

Personally, since I'm too cheap for Chris King, I found a great deal on some Hope XC hubs, which I've only heard good things about. The bike I'm building isn't done (trying to finish before first snow!), so they're untried as of yet. If you don't mind the whole centerlock thing (on applicable models), Shimano hubs generally deliver what you pay for them and some lines aren't too expensive. Is there anything wrong with the normal choices, or are you just bargain shopping?