I've been using this frame for 1 month and am very happy with it! There have been absolutely NO squeaks- or any noise at all. 
It is Extremely Easy to assemble: my 17 year old sister and I put it together, and, considering that it was our first experience of assembling any furniture, it went Very Smoothly. :) One note- to any furniture-assembly-newbies (like us), be careful that you distinguish the headboard from the footboard BEFORE you attach them to the legs. 
If you are looking for a substantial-looking bed, go for a queen. I have the full/double; it is exactly the right size for a double mattress, but the frame looks a little more like a twin size. 
Everyone who sees this frame loves it. I'm very satisfied with the purchase!