My dad has a Zercom Color Point. Its better than nothing but after about 7-8 years its getting really dull looking and tranducer is starting to pick up stuff that isn't there. It will flash all three colors all the way through the water column for about three seconds and then disappears. It is also having trouble picking up a small jig anymore, in order to get it to show up the gain has to be be set very very high.
All in all if 50 bucks is all you have to spend on a flasher it is better than nothing but if you can afford a few extra 50's I would keep an eye craigslist for an FL8