it's a great deal for a first fixie at $347. it seems others have bought it and had good luck with it. that said, the fact that the seller is able to unload it at less than half of the retail doesn't sit well with me. all of those exclamation points and fonts don't either.
however, i suspect those Joy Tech caged bearing hubs are going to require a decent amount of maintenance to keep them rolling smoothly, nevermind to keep them from disintegrating from street use.
i guess if the probability that you'll have to replace the wheels is high, you should consider that you can get an IRO complete for a little over $500 during the current sale. replacing the wheels on the mercier is going to cost you more than $150.