I used to own one, and I kind of miss it. Basically it is an acoustic/electric version of the D25. A quality, dependeable workhorse. It was great plugged both solo, and live band situations (although sometimes a feedback buster was necessary for the latter), Unplugged it was great as well: for strumming it was excellently balanced and robust with great projection; it was actually pretty for finger picking as well (it didn't have a ton of overtones, but it was crisp and clean). Mine actually recorded pretty well too, oftentimes better than two other more expensive guitars.
Definitely get some numbers on action, and saddle height as that can be problem with some. Assuming this one's OK, I don't see how you can go wrong - the DCE-1 is an all around quality workhorse.
Incidentally, when I bought mine back in 1997, I easily chose it over a more expensive Martin D1-CE, or whatever it's called.
-Chris