It works great! Great meter, buttons all function, shutter is well timed, and all in an incredibly small package.
The reason it is so cheap, is only because so many similar cameras were made, and there's not much to set this one apart from the rest. I picked this up to use my (at the time, large) Canon system on film, and set it down when I "upgraded" to the Elan IIe. When the Elan broke, though, back into service came this Rebel 2000. So today, it's still running strong, although with many fewer lenses than at first.
Here are some of my favorite photos I've taken with this camera: