I have no first hand experience with this device. For $33 you can only expect so much.
If you search the reviews on newegg and amazon for "FIOS" and "range" you'll see mixed results. One pro I saw was people with FIOS said it was pretty easy to install and what your asking for in terms of range doesn't sound like a lot.
My biggest concern would be reliability, but newegg gives you 60/90 days, the OEM 1 year, so try it out is my advice.