I agree with Drafty, Rodeo looks cute with a western saddle, just not that one. It looks to be of lesser quality. I don't mind light oil, have a couple myself, it's the leather quality that I'd be concerned with.
My suggestion would be to look for a quality used saddle, you can pick up a good used one for the same price of a brand new lesser quality one. I picked up a really nice 25 yr old Cook for a student a few months ago for $200, people hadn't used it in years but was in fantastic shape.
Life is like a camera. Focus on what's important, Capture the good times, Develop from the negatives and if things don't work out, Take another shot.