I am incredibly impressed.  This took me about an hour but part of that was because I hauled parts upstairs individually rather than attempting to move the whole box up, which would have been beyond my individual capacity.  All the parts were there.  All the screws were easily identified, thank you blister-pack!  The wrench tool was amazing esp once I figured out its ratchet function, or how to stop the ratchet feature and just crank the screws. (What other assemble-your-own comes with such a sophisticated tool!)
The final assembled bed is rock-solid, clearly was designed by engineers who recognize the limited skill set of the average retail client.  
I am so impressed!

And the bed, once the mattress was placed on it, is standard height and now my only tasks are to find a bedspread that goes with the rug, and under-bed storage containers that will be a perfect solution for this space.  What a great find.