I would doublecheck whether it has Wifi - a quick Google shows several reviews claiming it actually doesn't. If it does, that sounds pretty good, as Wifi is usually only on more expensive phones.
There is at least one low end Nokia Symbian phone in that price range, the
Nokia 5230. No Wifi, also no physical keyboard, just on touchscreen. But it has a higher resolution, slightly larger screen, 3G, GPS . It'll also likely have better software (e.g., the web browser - looks like the LG phone comes with Opera Mini, which is reasonable for low end phones, but not as good as full browsers like Nokia's, or options like Opera Mobile that can be installed on Symbian). I can't find any info on CPU or RAM specs of the LG, though I'd be surprised if they're as good as the 5230.
(I have the Noka 5800 which is basically the same CPU spec and operating system, but with more storage and features like Wifi, and I'm very pleased with it.)
(As an aside, I do find it frustrating that given how many low end phones have physical QWERTY keyboards these days, this feature is lacking in many high end phones - personally I would rather have a real keyboard, but there's less choice if you want one. Even £30 PAYG phones have them, so it can't add that much to the cost.)