Nope, not a bad one at all. A couple of nice features: the switchable bases are good, because it's easier to use a D-handle for some jobs (like routing a slot in large pieces for T-moulding), while the two-handed base is great for others (like using a dovetailing jig or routing using a template as you would for creating a recess for a joystick mechanism). Also, the model you picked up has electronic soft start, which is nice because the router doesn't try to jump out of your hand when you turn it on -- a big safety plus, in my opinion, for people not used to working with routers. You can also use the plunge base if you need it (a recess in the middle of your workpiece would be an example of when you need to plunge the router into the work). Finally, the router has a half-inch collet, which lets you use bits with a heavier shaft -- these tend to produce better results than those with 1/4" shafts, so I'd buy them if you can get them locally. (Or order from someplace like Woodcraft, Amazon, or the like.)
Ryobi tools tend to be good light to medium-duty tools, according to the reviews I've read. Sounds like a good choice for your situation.
Hope this helps!
-- Chris