You guys are right. I'm looking at my other options, and aside from this (possible; no interview or offer yet, just knowing someone in the company who's friends with the boss), my options are practically nothing.
Even a very underpaid job is better than continuing to gain experience at being unemployed, or, god forbid, the service industry.
I've read the job description, and it sounds like they're a company without any kind of real IT department. The official job title is 'web developer', but it sounds like I'd be responsible for everything related to IT in the company. The boss is the one who handles things right now, and he doesn't have the time or technical knowledge to keep up with it, especially when he has so many other things to deal with.
A wide range of job duties is definitely something that would help me in the skills area. Also, when I compare the job I had in 07 to the one in 08, the 08 job paid over twice as much, but I had very limited duties, and didn't learn anything (aside how to hate life and everything else, but that's a different story). The 07 job, while underpaid, was a fantastic experience otherwise. I learned a whole lot at the company, and the company treated its employees vastly better.