There are a couple things here.
First, I have fired a friends new HiPoint in .40S&W. It was a decent enough gun, but definately not a nice gun. I would run several boxes of ammo through it before I would trust it, but that is the case with any semi I might get. Everything I have heard suggests HiPoint stands behind their amazingly cheap guns. I am sure some need that warrenty service, but quality control costs money, might as well have the customer do it since they'll be practicing with it anyway... hopefully. This is what I would recommend to a poor friend who needed a gun right away (abusive ex-boyfriend threatening her or whatever), its far better than having a Kimber on lay-a-way.
Second, Jennings made a lot of guns. They were bound to make some that ran right. Perhaps a good sample of one of their better designs might run several thousand rounds. But I would not buy one expecting that it would work well. Its better than no gun at all, and is most likely going to fire one for sure, and quite possibly several. That is probably enough. But I wouldn't bet my life on it. I wouldn't recommend one to a friend, unless there was no other gun.
Third, Like I mentioned above, a gun in one's hand is much better than one on lay-a-way. Depending upon state and local laws it could get resold at nearly retail ftf to a friend down the road when its owner has saved up enough to get a Rossi or something.
Finally, for a "gun nut" I see no point in buying lower quality firearms. With the cost of ammo, its false economy. Even those of us who "don't get to the range enough" will spend more in ammo feeding the firearm than on the gun itself. May as well choose the gun because you want to shoot it, like its design, trust its reliability, etc, rather than because it was 5 boxes of ammo cheaper than what you really wanted.