Sorry for the long review...
I bought this bed (with guest bed) as we have a very small spare room and not too much space to waste.
I had a 'divan-type' bed and guest bed before which was rather flimsy and creaked a lot when adult guests were on it (rather worrying really), so decided I wanted something more solid with slatted bases for comfort, and wanted to use my own matresses as default ones are usually bad.
The bed came with some assembly required, but all in all quite easy (1 person with limited strength can put it together), and all the parts fitted very well.
Once built, it's really nice and sturdy, and while not being the most beautiful bed ever it does look neat and simple. The slatted bases are comfortable (it doesn't come with matresses, so what you choose will make a difference), and the underneath bed has little castors to roll in and out easily and it goes up and down quite easily too, and still feels sturdy when up, so I won't be scared to let even larger members of my family sleep on it when they visit - it's a very simple mechanism so there's no risk of it folding or moving overnight.
The part missing in the description of the item is the clearance between the lower bed and the main bed when folded - we have a 8" (20cm) thick mattress which fits well, so it's not too small and you are not limited to tiny foam matresses - it's a full size single matress as well (not a short or narrow one as with some guest beds), and when up, both beds have the same size.
The delivery was fast too (I ordered Sunday afternoon and it arrived Tuesday), so I'm very pleased with it.