The cabinet itself is satisfactory.  It's not a high grade construction, but for this price, it's about the expected price.  I'm sure the lock wouldn't foil anyone for long (you could cut through the steel easily enough if nothing else), but it's sufficient for the basics.

The only issue we had was that it was missing one of the two plates that are used for securing the back wheels to the cabinet, and you'd have to apply a fair amount of torque and pressure to get the front wheels mounted - the holes are a bit under-sized compared to the screws provided.  I'm not overly concerned about having it on casters for now.  If I need it mounted later on, I can always build a small platform to put it on.  For this price, I would probably buy it again if I don't need anything too fancy.