Being tired of "floor model" stands as my guitars and basses always kept falling off them, I wanted a stand for at least two instruments that is holding them by the neck. This one get the job done and seems to be of high quality generally. A guitarist friend also has a similar one, but an older version obviously, and he has no complaints, which is why I ordered this. I do have a few issues with it though.
First, the detail that annoys me the most: There is nothing keeping the guitar holding hooks retracted when the stand is not used. When handling it (read: during and after folding it for transportation), gravity easily makes at least one, but often both, of these hooks fall out and latch to the "in use" position. I might be rather pedant, but that's obviously not how I want them during transport, and find this issue to be at least as irritating as flimsy legs on an old mic stand.
The other issues are more minor. When using only one of the hooks, it is rather important which one, as one of them is clearly more stable when the center of gravity is off center (you cannot rotate the hooks relative to the legs). With three legs, the issue is not easily avoided, but worth mentioning. I think the legs could extend a bit further for more stability, or there could be a bit more weight in the center of the bottom part of the stand. The other minor detail is that the lower supports for the guitar body is not aligned with the hooks, but can rather freely rotate. Is there ever a time when you'd need them in a non-aligned position?
Overall, I would not buy this again but look for another model.