I have this and I love, love, love it! My daughter is 4 months old and still sleeps in it. Once she is done using it as a bed I'll will use it as a play pen to protect her from my 22 month old son.
My friend has one like that and she absolutely loves it. The daughter liked it because she could be up higher and look around or it can be used as a typical play pen.
I'm seriously dreading the day I have to move her out of it. i really love it. I had a regular bassinet with my son and I didn't like it near as much. This one seems so comfy and has much more room.