We did this as well, and it worked out fine. In our case we had a cosleeper (which my son never slept in, LOL) attached to one side of the bed, and between that and a bed bumper, didn't move the bed to the floor until DS was about 5 months old when I decided to get rid of the cosleeper and reclaim a little floor space in the bedroom! We also put the bedframe in storage and just put the mattress and box spring on the floor, and it stayed that way until DS was 3.5 and we moved and got a new bed.
I was kind of surprised that DH was ok with this, because aesthetics are really important to him, and at 50, he was not keen to relive his hippie-student days of sleeping on the floor. But, we found that little things, like being sure to make the bed every day, using pretty sheets and keeping our beautiful antique quilt at the foot of the bed more than made up for the funny height of the mattress! We even started joking about how we were going to redecorate the bedroom with love beads in the doorway instead of a door, and incense holders instead of wall sconces. And of course the peace of mind we gained made cosleeping that much easier, which was of course the goal all along.
