I haven't heard of it. I've had a quick look around, but their isn't much info available for it, even their own forum is empty
http://forums.shopalacart.com/. Personally I wouldn't touch anything with no 3rd party impartial feedback for that
price, it's way too risky. An ecommerce platform with some history and feedback is a safer bet. As mentioned above, have a look at Zen Cart or even
Magento (This is relatively new, but it's making some bug waves in the ecommerce industry).