I decided to get this as a bundle together with SM57, because of the price
The stand uses a lot of plastic, it doesn't feel sturdy, it's hard to make precise adjustments, but at this price it's to be expected.
As I understand, the top top crane can't be taken off, which is a pity.
Holds SM57 in place reasonably well. Haven't tried other microphones, though. Most likely, heavier microphones will cause crane to eventually tip up.
Cable is nothing to write home about: haven't noticed any problems. There was a noticeable electrical noise at higher gain settings, but it very well might be my setup's problem.
Overall, it's a great option if you're on a budget, or buying in bulk.