Thats exactly the same one I got for free when my work cleared out the EPROM burning station and for me it was the most worth full part of the lot because I too had the cheap Chinese one before.
This one is much much much better in every way. For our hobby it is perfect, not many of us need to erase loads of EPROMs in one go. even if you have the Chinese one, this is a huge upgrade and for this little money, I'd grab it if I already didn't have one.
The metal body and electronic (compared to mechanic) timer are big plusses IMHO.