The Nantucket Storage Bench is an excellent value.  There is assembly but having pout together quite a few need-to-be-assmebled pieces, the directions and design are excellent.  It looks excellent in our sons playroom.  The finish is very good.  For this price, I'm very pleased and will last the time frame my child will need.

Pros: assembly instructions, design and finish
Cons: won't be an heirloom piece but for this price and the need for light storage (toys in our case) I wouldn't go any other way.