These are not bad drums, but they're not the top of the line for sure. The first conga I owned was a Matador conga, and it did its job and sounded fine and basically fit what I needed it to do perfectly. This line of drums (in the LP catalog) are really the top end of the student instruments and the beginning of the professional ones.
The Matador congas don't have as rich a sound as the Classic or Salsa model drums from LP, but its not too far behind.
The biggest differences between the Matadors and the Classics/Salsa model drums is the heads that come on the drums and the hardware. The heads that come on the Matador drums are the basic white LP cow hide heads (don't really know if they have a name) and the heads on the Classics/Salsas are the 'hand picked' (tan) heads which really do sound superior for whatever reason (thicker, warmer sound).
The 'soft strike' rims that come on the Matadors aren't bad, but I personally prefer the 'comfort curve II' rims that come on the higher end lines of drums. They're just more comfortable to play on to me.
Both of these things are relatively easy fixes if you want to do so. The general sound of the shell on the Classic and Salsa model drums is definitely superior to that of the Matador drums, but if you change these two things you'll get very close, and save some dough. If you don't have the cash now to drop on a set of Classics or Salsas, just get some Matador drums and then invest in the rims and heads at a later time and WHAM- you'll be getting a really good sound and will have saved some change that you can put towards some nice bongos!