I bought this last week and finally had time to install it. I hit 3 studs only but used metal anchors, 50lbs max weight per anchor, to anchor in between studs. I did not use the ones they provided because I have used these metal ones forever and love them and they work. I'm not worried about only hitting 3 studs because I used metal anchors and not the plastic ones they want us to use. 
I like that you can just snap in the hooks and baskets and reorganize as needed. I like it!