The site is registered in Australia which is a good thing. Australia has rather solid Copyright Laws, so if they are selling illegal copies they won't be around for long. The site (as a vendor of music) appears to be only about 10 months old, though there is history of the site being held "squatted" back to 2004. Reviews of the site are generic...appears to be the same "Press Release" type review over and over again...
The site's user interface, pricing schemes, and library leave much to be desired. Regarding the library and the pricing, maybe the low cost per track scares some artists away, but 5 cents appears to be an introductory price. It appears that there is not an auto-billing/charging scheme, instead the user prepays by buying a quantity of I-coines...one I-coin = one track download.
Since it is your money and not mine : ) I say give it a try...let us know how it works for you. There library has some interesting stuff, maybe I'll try after you test it out.