The sound on this guitar won't impress a professional, but it won't make a little kid cry either. After getting my Yamaha FG-412S Acoustic Guitar, I realized how flat sounding and narrow this guitar sounds. The sound doesn't carry very far. This is basically a gutiar to chord around with, when you're just getting started. Once you get more advanced and start writing solos and stuff, you'll want to upgrade to a nicer, fuller acoustic. And trust me, nothing fits your emotions like a warm fuzzy THICK acoustic sound. Too bad this doesn't give off that fuzzy feeling. I wouldn't recommend this for backyard barbeques or any events. Unless it's backyard wrestling, in which case you can use it to hit your opponent with. I guess you can't really beat the price though.
Would I gig with it? Definately not. This is a beginner's acoustic, although a musician of any stature could use it. The finish seems to be cheaper. It's not as shiny as other acoustics, but I guess I can't complain. It never bothered me when I was first learning how to play. The fingerboard however has become weak over the course of a few months of my playing. I've also noticed the wood in the fretboard has deteriorated, and there are indentions in the wood. Not good, but I guess I should have clipped my fingernails more often. Would I depend on this guitar? It just depends...heh...I'm such a joker *raises gun* *bang*! It depends on what you want to use it for. If it's for bedroom playing and practicing, I would depend on it. If it were to play in front of more than 2 or 3 people, I wouldn't reccomend this.
I've been playing for about 10 months and I have a Yamaha FG-412S Acoustic Guitar, the Austin (mentioned above), and a Gibson Ventura SG Electric Guitar from '73. I also have a Kustom 250 Amp and all of the accessories (pedals, capos, picks, etc). If this were stolen or lost, I doubt I would purchase another. I wish this guitar had more features and better sound and reliability. It's a beginner's guitar at a cheap price, so what can you ask for?