I bought the slipcover for an old, colonial style sofa.  It's not bulky like the new sofas, so the slipcover has a lot of extra fabric; required a lot of tucking.  For a fuller shaped sofa, it would probably fit very well.  It looks fine though; I don't mind that it doesn't fit tight and perfect. The ties are very helpful.  I just hope it doesn't slip out a lot and require a lot of constant tucking.  I'm fairly happy with it.

Pros: Lots of material to tuck in. Looks nice when done. 
Cons: Not made for old, non-bulky sofas. But it's impossible to find a slipcover like that.