I love it -- as a comfortable, versatile, lounge-y piece in my loft.  I wouldn't be happy with it in a primary living room -- a little too low and informal for that.  But I find it extremely comfortable to lie on and read a book, or to sit and hang out on.  I haven't slept on it yet when folded out to a king-sized bed (and it's king-size, not California king-size), but I've laid on it, and personally, at 5'3", I wouldn't need a mattress pad.  Will get one, for taller folks who hit the points where the ottomans drop in.  But I find the firmness just right -- both for hanging out on sofa, and for lying on bed.  Sofa does need a few throw pillows to soften the right angles.

I bought mocha, and I'm very, very happy with this piece.  The three hassocks are useful and fun to be able to move around.  I really like sitting/lying on the sofa.  And it will be great to have a spare king-size bed for company.