Pros: A good idea
Cons: My baby disliked it; grew out of it very quickly
I bedshared with my first child, but always felt vaguely worried in the newborn days. He wouldn't sleep anywhere but beside me, so we did what worked. With my second we decided to try the Arm's Reach mini-cosleeper bassinet from right away in hopes that she'd be used to sleeping near me, but separately. It didn't really work. My baby never seemed to like it. The cardboard-like mattress was too firm-- she always woke when set down no matter what we tried. She was 11 lbs 4 oz at birth and nearly filled the bassinet. Now she is three months old, 20 lbs and too long to fit in the bassinet at all, even if we were to try. Also, one of the selling points of this product is that you can attach it to your bed firmly, but we really struggled with the mechanism and never got it tight. Why is the adjustment on the co-sleeper side and not on the other end? It just doesn't work very well. I am glad we bought it used.