They're good, yes. Alcohol stoves, especially homemade hobo stoves, have a number of quirks you need to be aware of. They go through fuel quickly, they don't burn very hot, alcohol can flare up easily, and any spills or leaks are a fire hazard. They're not terrible, but I don't like them.
If you want to go with something similarly small and cheap, get an Esbit folding stove and solid fuel tablets. Much more practical. Around here you can get a stove and a pack of fuel cubes for under $5.