This is a bit thin feeling when you unpack it, but I give this 5 stars for several reasons.  It fits on the mattress really well.  In fact, I can't believe how much taller my mattress could be and it would still fit well.  Also, it's summer and this mattress protector is more comfortable for sleeping than my more expensive, thicker ones.  I don't notice the waterproof-ness at all, as it doesn't make any crinkle noises or make me feel sweaty.  I usually look for non-waterproof mattress pads because they breathe better but this one seems to stay cool.  I have not laundered it yet, but so far I am very pleased with this purchase.  
And now that I've washed it, I am even more pleased.  This is definitely a keeper.