This has been a great outdoor loveseat.  It has looked nice and classic at each place we've lived, and has withstood the weather well (without us taking care of it much).  It has discolored (greyed) slightly on the back due to the sun hitting it there daily, but we are going to treat it now with a restorative stain and then some protectant.  It has already been worth the money; still going strong after 3 years and I'm optimistic we can get 3-5 more years out of it!