Just found this on ebay. Think it would be any good?
Frank
http://cgi.ebay.com/ws/eBayISAPI.dll?ViewItem&item=2525804517&category=10183
I had a similar brass flute that had tuning problems, but this one looks like it’s much nicer than the flute I had. It is obviously of cylindrical bore, so it will have a weaker upper octave. If it’s not too expensive, it could be fun to try.
Just my .02 cents worth.
Eric
It has a couple of good points: the embochure shows some care, it’s not just a hole in the pipe. Also, the finger holes are not all the same size. It might be an interesting player… or not. It might have a parabolic Boehm type head to correct the upper octave tuning… or not.
I have a good cheap flute already (M&E), so i’d buy this one only it if i could do it cheaply, say US$50 or less. Your pain threshold and/or spirit of adventure are probably not the same as mine, so decide how much money you could throw into it without feeling too bad if it turns out to be bad, and go for it! Let us know… You could always re-sell it on eBay 
One thing i don’t like is that the maker is not mentioned.
If you wanted to play around with an inexpensive metal flute, I think you’d likely be better off with one of Hammy Hamilton’s practice flutes:
http://homepage.tinet.ie/~hammie/practice.htm
At 50 Euro, these are not at all expensive (about $55 US dollars).
If you do get the flute from Ebay, I’d be interested in your impressions once you have it, especially if you ever find out who built it.
Best wishes,
–James
Has anyone here had experience with CaveWinds flutes?
I’ve emailed him a couple of times, but he’s been down (not producing flutes) for over a year now. There’s a new Web site and still the information that he will be selling flutes again soon.