Dear Ryecon,
I just purchased a Ben Pearson Cougar myself off Craigslist and have learned a thing or two in hindsight. It was my first bow and I was pretty clueless. It didn't have a string, so I never got to see how well the string lines up with the riser(i.e. whether or not the limbs were bent). Turns out the limbs were pretty bent and the string off a good 1/2 inch, but I'm learning to adjust my aim to account for the difference. I don't think that's a very ideal set up, though. More dangerous, I think, would have been if the limbs were twisted. Thankfully, I had a buddy with me when I looked at it who could tell they weren't. But anyways, there was also a fine splinter crack in the fiberglass, which I just never noticed. A little crazy glue took care of that. Had I realized how bent the limbs were, I might not have bought it. But for $50 for a lefty bow, I can't complain.
If you've at least seen pictures of this bow, I don't know how wrong you can go for $35. If it turns out to be junk, chaulk it up to a good learning experience. Otherwise, you might want to hold off and shop around locally where you could actually see the bow, string it, and maybe even shoot it before you but it. And if you're new to the sport like I am, find someone more knowledgeable to come along with you. I brought the bow in to one archery shop that tried taking me to town trying to convince me the thing was a dangerous piece of junk. Turns out those guys worked on commission and the bow is fine. So beware. Let me know how it goes.