I was a little worried concerning the quality of the bed after reading the other reviews.  However, once the bed was fully assembled (which was done quickly), I LOVED it even more than when I first saw it online.  I got the bed for $247.  I initially purchased it for $331 and while it was shipped (and delayed) wayfair was kind enough to price match the lower price.  The upholstered material is thick and durable.  It is very pretty and adds a ton of character to my room.  The bed is also sturdy.  I put a split box spring on it and a regular mattress.

Pros: Great value, easy to assemble, very sturdy.  The panels on the bottom of the bed holding up the mattress and boxspring are also very durable.
Cons: None that I can think of.