One of those recently went for $260 on eBay. It's a good, solid guitar, but whether you buy it or not depends partly on what style of music you end up playing. I would recommend playing it for a while, getting a feel for what you like to play, and learning more about guitars before spending any money. If you have a teacher he/she can give you some guidance.

First of all, it's a dreadnought. That's the most popular size, which makes it a good place to start. However, you might find down the road that you want a different size guitar. For instance, fingerstyle players tend to prefer smaller guitars that are not as loud but are more responsive. Or you might want a built-in pick-up, or a cutaway, or a different type of neck, or any number of things.

Second, it has a cherry top. Different woods have different characteristics, and that might affect your decision down the road. Spruce is the most common top, whereas my two best guitars have cedar tops. It depends on what style you play and what you like.

So, I would borrow the Guild for a while, learn more about guitars, and then decide. It's certainly a nice enough guitar to learn on, and you might well decide to keep it. In the end all that matters is that you like it - don't let anyone tell you that you have to have a certain make or model.