Since it's blue and not red, it will make crummy beer
In seriousness, this cooler has been used by many and should not disappoint. As for the screen/filter I found a good steal on a stainless steel braided hose made for water heaters. It worked much better and was a lot cheaper than the SS ones made for toilets etc. Don't be afraid to ask and look around, I think I made my mash tun for $30 including cooler, line and ball valve.
How did you do that? So far I can get the cooler for $22, the bulkhead and extra pieces for $30 and then the bazooka screen for $8
I got my cooler, a 44 Qt Coleman, on sale for 18.99, the SS braid (large water heater style) was clearance for $3, and I use a brass ball valve/nipple which was around 5-6 bucks. If you wanted to go all stainless, Check out Bargainfittings.com, they always have super low prices on SS fitting for all sorts of brewing needs, but you'll have to account for shipping. It was really just a matter of shopping around local hardware and big box stores for deals/coupons etc.
Denny's system would probably be even cheaper, especially if you don't want to bother with building a bulkhead style system for a metal ball valve as it's really not necessary.