It is awesome. The top is hardwood (actual solid wood), the frame is steel.

  Assembling is easy, but you need to at least look at the instructions (it is tempting to start in a wrong order, which means "un-doing" and "re-doing" things later :))

The wheels can be fixed in one position, so it won't move, if you just want a stationary microwave stand, rather than a cart.  Shelves heights can be adjusted as well.  For me personally it lead to a dramatic increase in counter space. 

The fact that I got it from the clearance section and it was delivered the next day just adds to the overall very positive impression!