Looks good for the price. It says "new wheels" and has a freewheel and a cog/lockring on it, so at least it's not a suicide hub. It also has brakes which will put the worried minds of BF to rest. Salsa cromo stem, clips and straps, etc...

I'd say do it. That's about as small a frame as you'll find. If you're only 5ft tall, it should fit, but might run a bit big.

No, a fixed gear bike does not brake for you. You use your legs to both pedal forward and slow down by resisting the forward motion of the cranks. You'll get the hang of it pretty fast with the assistance of brakes. Go for it, enjoy it, ride on!