People been chattering about this lately elsewhere online. Overall it is pretty cheap parts, as you'd expect on a dept store bike.
There is also another $150 fixie that Wal-Mart sold: the Genesis track bike. More like a road bike (drop handlebars). Web says not available now, seems to have been for most of 2010 though.
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I like that Wal-Mart sells stuff so cheap; it does put downward price pressure on other companies.
When 29" MTB's were all still commanding premium prices, W-M came out with a 29" MTB for only a couple hundred bucks, and suddenly all the other companies began coming out with lower-priced models also. Yes, the W-M twenty-niner is cheap & junky--but it proved the point that a 29" MTB really doesn't cost much more to make than a 26" does.
I *kinda* want a 4"-tire MTB. Though I don't really have the money, or the storage space, or anywhere off-road nearby to ride it.... :>|
The ~$1000+ prices of putting together a Pugsley are keeping me safely from the temptation (I don't want the 2-speed Sun one).
When Wal-Mart comes out with one however, I may just be sunk.