It's a good welder, within its limitations.
The problem with 110vac welders is that they don't generate as much "heat" (heat being a relative term - I'm meaning heat as in penetrating power, as in getting the heat INTO the material so that the weld is not merely surface but all the way through the piece) as a 220vac one.
For doing light duty stuff, it will do just fine, and since it's Lincoln, they will stand behind it.
Light duty - stuff we do for our brewing. . . just fine. Fence repair. . . just fine. Adding wheels to a "thing" so you can move it around. . . just fine.
Realize it is going to push it to make 1/8" - that's what it says is max and that means it's the MAX. If you need to do 1/8", practice on scrap first. get a few pieces of scrap that you can break apart. Bevel the edges just a touch, then weld them together - just do a 1-2" seam. Then take it to your vice and break it! If the WELD breaks, keep practicing. If the METAL breaks. . . that's the ticket.
Does that make sense?