I've had one of those Model Power switchers... The exact same one, in fact, except it's in Santa Fe colors. I bought it back in 1988 for $10 actually.
The thing actually runs OK but not anywhere near as nice as an Atlas. It's got a frame-mounted motor that drives the rear wheels through a worm gear. The front axle just freewheels. It's got a pretty big hunk of lead in the engine so it pulls decently for such a small engine (it can pull around 10 free-rolling cars on straight level track).
However, it's not a good slow-speed runner, for two reasons... Just four wheels for electrical pickup and no flywheel to maintain momentum, so it will be more sensitive to dirty track. 8-wheel switchers with flywheel drive will be more reliable because of more wheels for electrical pickup and the flywheels will allow the engine to coast past dirty spots on the track. Also, the gearing for that engine is rather high. Model Power geared that thing to run at a scale 100mph or something.
It's also kind of noisy... The growl is about 5 times louder than an Athearn Blue Box loco.
My final complaint about that engine is that it's totally out-of-scale. The thing actually looks more like an O-scale narrow-gauge switcher.
But other than those things, if you need a small, cheap engine that can handle real sharp curves (this thing can go around 10" radius curves if you want it to), yea grab it.
If you want a better-quality BN switcher, I would grab one of those Atlas switchers like an MP15DC. 8-wheel flywheel drive, very smooth, great low-speed control for switching maneuvers. BN had a few of these yard switchers on its roster, though I don't know if Atlas has their MP15DC in that paint scheme. You can always grab an undec and paint it up yourself-- The BN paint scheme is ridiculously easy to do.