Harpgirl, my spare is also a Chinese student instrument, a Palantino VN-450, so I'm not sure it would be worth the cost to buy a this one vs. making adjustments to the one you have. I'd let it go to a good home for about $125. If you know a decent player, have them check it out and see if it's worth putting any money into, and check the intonation and such. Violins are white elephants, though, they can suck up the money in a hurry!

Some of the Chinese violins are pretty good... others are not... they're like the proverbial box of chocolates.

A peg job here is about $80; I have to get one myself for my newer violin. I wouldn't spend that kind of money on a student model if you can get away without it, but that's just me. When mine came fresh from the factory the pegs slipped too -- the pegs were fitted okay, they just needed a bit of help with the peg dope.

I second the Dominant/Tonica E combination.