Is this a good propane torch?

I recommend The Bernzomatic TS4000. May cost a little more but it has all the features you asked for and will last 3 times as long. Also, it uses MAPP gas which burns much hotter than propane. This means it solders faster and will solder larger pipe. I am a professional plumber and I use one for all of my light soldering. I have had it for two years and still works great. Should cost about $40. Having said all that, I am sure the one you found is more than adequate for lighting fireworks.