I'd echo what pgtips wrote. It may
be possible to get rid of some colour fringing (chromatic aberration) in post-processing but that still leaves a big question mark over coma
. But if you are willing to take the risk and want to produce some "arty" results where edge and corner sharpness aren't needed then $26 may, just, be worth the price of admission.
But if you are after wide-angle panoramas of relatively static scenes then photo stitching
may be the better way to go until you have the opportunity to get a dedicated DSLR lens.
Let us know how you get on.