I decided to buy the yamaha trying a similar model from a friend. Although I know the brand for drums and electric basses I was a little reluctant, yet trying the FX370 (in natural color) I finally bought this black version.
Pros
The sound is really good for the price, very rich and warm. I changed the strings (they were playing very good btw, but they left some black stuff on my fingers) with a set of EB earthwood bronze and the performance is really good.
Intonation was perfect, so no need to set up the guitar also since the action was fine to my feeling.
Overall the guitar although the woods are considered low quality it's performing great. The amp is good, I used it just a little so I will update this review
Cons
The only cons I can find (apart from the black stuff on my fingers, just a string change and fretboard polishing needed), are about the amp and the pins where you can put a belt. The amp is good but the 9 volt holder is too near the neck, and not easy to open. The pins are placed one fine one at the end of the neck, so a standard belt can't fit.
Overall
The cons are few, the pros are many, I guess this guitar is a nice starter stuff, better than many other brands. It can be also a very good studio guitar, and a wonderful spare partner playing live (if you can afford higher woods).