I bought one of those as a first instrument. They're definitely cheap, but if you play seriously for more that a few months you'll quickly realize the limitations and want something better.
If you're anywhere near Iowa, let me know (I'd prefer not to ship) - I'd be willing to part with my old one for a good price, if you really want something like that.
Don't do it.
Save up some more cash and get a sitar from AACM, Buckingham Music or Sitars Etc. I'm quite sure these sellers stand behind their instruments and will make sure its set up properly for you.
I have the same exact sitar shown on the first link you stuck in your post. Though, I think the one I have is OK for a beginner I think I just got lucky. And,,, I paid over twice the price shown on the e-bay link,,, thanks to my local scumbag music store dealer who ordered it for me.
I only wish I had known about the "real" sitar dealers before I spent A-LOT of $$$$ on my first couple of sitars.
In my honest opinion figure on spending around $500 or $600 bucks on your first sitar. Get something half way decent and you'll save yourself misery, disgust then anger. PLUS you wont feel like you've been ripped off when you upgrade to a higher end instrument.
So go through the forum post and you'll see who sells the good stuff and who sells the crap,,,,,, and there is alot of crap out there.