Overall, you get what you pay for.  Good futon that looks great, as long as you don't want to convert it too often.
Pros: Fairly easy to assemble, natural wood looks great, comfortable.
Cons: Arrived with a broken piece, mattress not as thick and not the same texture as pictured, drawers have almost zero usable depth, and it is very difficult to change futon positions (I worry every time about breaking the thin wood frame).