From my three whole days FW experience in solo cheaps frigate pvp, I say it can be good. I've gotten a couple-few goodfights, and died horribly to a few smallgangs, or trying to hit above my weight class. Whoever above said AB only fits are common is completely correct, most of the fits I've killed have been AB only or dualprop, at least on the frigate scale. I've seen a few linked pilots, but most solo/smallgang frigate/dessy stuff doesn't seem to bother dragging links along.
Protips for an enjoyable solo FW evening:
find and cap minor plexes in t1 frigate(10k lp a shot)
get bored with flying in circles and get slightly drunk
start engaging anything at all whatsoever in your T1 frigate without thinking of the odds
get some kills and then become a glorious pyre for the might of your home empire
go to homesys and get another T1 frigate, repeat
wake up with hangover and massively expanded combat log
Has worked so far for me.