Film is a great medium to use and anyway, what ever you use (film or digital) the same settings for shutter speed and aperture apply to get a shot so the learning curve in that respect is no different. I used one of these at university and it was a solid, reliable camera that got me plenty of shots. Most old-school manual focus SLRs from the like of Nikon, Pentax and Olympus (and others) will survive life better than their owners!!!
The thing is these days, the cost of film against digital media is so massive that to start out on film, although exciting, might actually work against you because it's far more costly to shoot film these days than it is to shoot to a memory card. The wait for films to come is nice - but also unnerving if you're starting out - and to get good processing and printing it may be a case if sending off instead of using a high-street shop, or using scanning services, which again will be costly per image.
Not trying to put you off it at all but if this is something you're still learning from scratch, a cheap digital SLR takes some beating as a learning tool because they are so convenient.
If you do have a go at digital (aside from keeping the FM for later) buying used is a great way to start; these days you can pick up a decent little 8-10 megapixel body for £250 (like a Nikon D60) and get a good kit zoom for under £100. If used interests you have a butchers at places like ApertureUK,
MPB Photographic or Ffordes, as they have a good turnaround in used bodies
