Norincos are not flashy and polished, they are basic 1911s built with very good steel. I'd compare them to a Springer GI model in terms of features. They have not been imported since the early 90s due to the Clinton ban so most of them circulating are 15 or so years old.
At that price, maybe, but you can get a new Springer GI for a few $$$ more. They have a niche following and many custom 1911s are built on Norincos. If all you want is a cheap basic shooter, you'd probably be better off with a Rock Island Tactical...