Thought I could contribute to this tread with how I rooted the tablet and installed Play Store, 'cause is stupid easy (at least on my PC.) I used the first link that mikedt posted earlier in the thread. But on that posting the OP dedicated only one paragraph on the installation process, so here is a little more info on the process.
First, there is apparently no ROMs for this device, although I haven't search too much. For a $50 device the Play Store was plenty for me (Netflix, Angry Birds etc.)
As for the steps, first the tablet device drivers need to be installed so the computer can see it. Do a search for: "Drivers_AllwinnerA10_32and64.zip" the first link on google was good enough for me. These are just the drivers, not an installer. So if you have no experience with raw drivers you might want to look up how to install them. (My computer would only see the tablet if it was connected via USB directly, meaning no USB hub.)
Next, find "Rootthat-ICS" off the internets. After unzipping the RootThat file folder find the "windowstart" batch file and run it. (I've found that RootThat crashes upon first launch but works after ending it and relaunching.) In the RootThat menu click the 'root device' button. Simple prompt with only one choice appears, follow it, then wait for the success message in RootThat's output box. Then, click the 'Install Gapps' button, follow the simple prompt again, then wait for the Output box to give the success message (takes a couple seconds longer.)
Done.
I've completed this on 5 Craig CMP741e tablets (good deal at wally world) with same results. I'm new to this forum and don't plan on being too active except where I can passively contribute so my engagement on this might not be too in-depth but I hope this works for you.