Several of the pieces were rusty.  The canopy itself has had some light tears, but it hasn't rained yet so I can't tell if it will be leaky.  The instructions for setting it up were very unclear, but we managed to figure most of it out.

Edit: after a day of light rain and a cold night, I came out to find it on it's side and busted.  It turned out the rain actually pooled inside the canopy top, froze, and put it off balance.  It collapsed, and now the frame is bent and pieces are missing in my yard.  DO NOT BUY THIS ITEM.  It advertises itself as weather resistant, but it can't even resist some rain.