I use this stand for leafing through sets of notes (mostly regarding various music arrangements), that I refer to and work on almost every day. I find it suitable for either floor or desktop use. For tabletop use, I find it also works well as an easel for reading books, as a music stand, or generally for referring to notes when my hands are busy.
It's a hefty piece of steel, and I suppose this justifies the cost. At any rate, it means that the stand is heavy enough to act as a sturdy base for items much taller than it.
There is a pair of drilled & tapped holes in the lower base arm that could be used to secure the whole stand to a floor or bench, perhaps for a shop display, providing as much stability as you're ever likely to need.
Size-wise, the two U-brackets are spaced such that they can just about support A4 sheets in portrait orientation. A4 in landscape fits quite comfortably, as does A3 in either orientation.
Each U-bracket has a hole at the top. I'm not sure why. I guess it could be used for string to hold pages in place, or for a bolt or dowel to close off the U-brackets in order to hold their contents more securely or to set contents at a particular angle. The U-brackets can also be rotated for this purpose.
Quality is top notch (which goes for all the K&M items I've bought over the years). I expect it to last a lifetime. It takes only a few seconds to set up or to collapse.
The only con I can think of is that it may be useless unless you spend significant time either leafing through folders or referring to written or printed material while your hands are busy. If you're looking for a desktop easel or music stand, there are lighter and possibly more versatile options available.