Pros: price, portability, design, slanted bed (reflux)
We co-sleep--and have for all four of our babies. When I was expecting #4, we were getting ready to move--and DH had moved all of the bed rails. I was looking at "real" cosleepers, but couldn't justify the cost for something I didn't think I'd use very long. I saw this--and decided to give it a try.
I love it! It was super easy to assemble--and I set it up next to our bed. DS4 slept in it from the start--and also used it when we moved. It was very easy to fold up and put in the car--much easier than even a pack-n-play.
It was great when DS4 had a bit of reflux, as the bed is slanted--so it helped a lot.
DS4 is now almost 6 months old--and we still use it. I keep it in the living room for naps. He's getting to the point where he's almost outgrown it, as he can sit up--but it's still good for napping. DH likes the fact that he can take it into his office as well. It comes with a cute little bunny toy that DS4 is enjoying chewing on right now.
DD1 loves to share it with her babies--and rock them.
I more than got my money's worth. It's also much easier to use than a Pack-n-Play as it's higher--so easier to get baby in and out of.