Looks OK, just make sure it fits you by trying one in the store. One thing I would advise against is buying a cruiser with 4" tires/wheels (like the Phat Bomber) unless you truly have a need for wheels that wide (regular riding on sand or snow); those tires and REALLY expensive! You'd be better off with an equivalent model with 2"-2.5" tires.

Other stuff you might consider:

* 7 speeds is nice, too; Its nice to have the lower gears to actually 'cruise', and the higher gears when you want to cover some ground and get somewhere.
* Also, that bike looks like it has a 'relaxed fit' frame geometry; make sure you like that type of fit. I don't like them, as I sometimes like to go faster than a cruise speed and the relaxed fit seems awkward for doing anything but a slow cruise. YMMV
* Also consider if it has attachment points for racks, baskets. water bottle(s) and other stuff if you'll be putting those on it.

In my case I got an old fully-rigid MTB and modified it to be a cruiser with 2" street tires, better handlebars, a grip shifter (like the Phat Bomber), and a rack/basket combo on the back. I'm happy with it. Look through the 'Show me Your Cruiser' photo thread for ideas if you want to build your own.