My daughter loves it, and it opened up a lot of room in her small room.  You do have to take the extra step of anchoring it to the wall if you want it to be really secure.  Also, somewhat a pain to change sheets because the bed is so high in the air.  Still really glad we got it and worth the time it took to put it together.

Pros: Lots of loft for the money
Cons: None, but you need to anchor it to the wall if you want it sturdy