It's just perfect for what we were looking for:  that is, something on the smallish side that could accommodate one of the grandkids for an occasional sleepover and also serve as a nice chair for our small guest room/closet room.  This is the perfect size.  Note that, as a chair, it is a bit low to the ground (but we are short so we like that) and folded out as a single bed, even lower.  It is pretty firm, so picky guests would probably need a bit of foam padding on top, but as the grandkids only visit occasionally, we're not worried.  The leather is nice and the stitching (white) looks great, too, and goes with our room's black & white theme.  We found it easy to assemble and easy to fold out as a bed and fold up as a chair.  It seems very durable.

Pros: Looks great, easy to assemble, perfect for small guest room 
Cons: As a chair it's little low for tall people and as a bed, it may not be as comfortable for an adult as a child.