Pros: Baby close enough to touch, baby in own space, relatively easy to assemble
Cons: Won't be close enough for some mom/baby pairs, a bit expensive, baby will outgrow quickly
Overall: Definitely better than a traditional bassinet if you definitely want separate space but you won't be close enough to be really bed sharing.
So, we bought this for our first baby in 2008.
We liked it just fine. It took a minute to assemble and figure out how to properly attach it to the bed, but it was do-able.
Baby slept in it for day 2 naps and maybe night 2? Quickly, we realized that if she was not able to snuggle up against mommy and nurse, it wasn't working for her. So, we didn't get much use out of it.
For your money if you want nursing access and close snuggles, I'd go for the humanity family bed product or something similar.
If someone has already bought you a crib and you definitely think you want a separate space, I recommend making a side-car of your crib. If that's not possible, this could be a good option for you.
Here's a picture to show how close you will be!