Depends.
It says that you get a 40-150mm Lens (doesn't say which one, and there's more than one in the range) and on the product spec page it also says Lens Kit Included - Lens mm Range 17.5-45 mm which suggests that you get a wide angle one too. If that's the case, then as far as the E410 is concerned, it's probably a good deal. If that's a mistake, and you only get the 40-150 then it's less of a good deal as you'll likely need another lens for more wide angle stuff (the E410 has a 2x crop factor, so the 40-150mm lens gives an 80 - 300mm focal range, that's all telephoto and for most people would be restrictive). There's also the issue of being tied in to a narrow range of lenses in comparison to other systems such as Nikon, Fuji and Canon. If you shop around you could get a Canon
350D or
400D with a kit lens for not a great deal more, plus Canon are offering £50 cash back on the 400D until the end of the year. And you can get a Nikon
D40 + kit lens for under £300 and the
D40x for a little more, and Nikon have a £40 cash back offer on the D40x until the end of the year.