I've got Volume Two of this set. Two of the films included had atrocious transfers, we're talking big blocky pixels, all kinds of digital mess going on. Really frustrating because these two were advertised as new to DVD! The other films looked "okay," basically on par with any other budget release. All were widescreen at least, but some of their titles looked like they'd been added with a video effect - I'm guessing they didn't actually have access to copies of the films under their Django titles and just swiped non-Django-fied versions from other cheap sets.
So with all that out of the way, I'd probably pass on this set. Even if there's a specific title that interests you, you'll probably be able to find it in better condition in another, better, collection at around the same price. If you're looking for good budget introductions to the genre, you should check out the database page on cheap boxed sets and the forum thread for same.
Database Page: http://www.spaghetti-western.net/index.php/Cheap_box_sets
And welcome to the forum! I'm new here myself, a fellow spaghetti neophyte, and really appreciate all the hard work that's gone into the SWDB.