I'm sure it would be a fine container. If your looking for simlar that is less expensive, my LFS has these that are custom branded for them that they sell for $11. It's 5 gallons and has worked well for me. You could probably find one at an LFS near you.
I'm sure the plastic isn't as thick as that Norwesco, but given it won't be sitting in the sun or anything I bet mine will last all but forever. Plastic is pretty thick and durable.