That Penguin powerhead is pretty much the same thing as a Maxijet 1200 (290gph; approx. $20). It's comparing apples to apples.
Maxijet has had a strong reputation for years, but has been under new ownership for about a year and the quality has definately gone down. I've lost two of the new Maxijets in the last 6 months, but still have two year old Maxijets that I use for water changes that work fine.
With that, I don't think there's any good reason not to buy the Penguin.