This is a very well-built, solid piece of folded steel. The drawer itself is on runner guides so it moves in and out smoothly and with proper support; you could store heavier items in here with confidence. There's a latch mechanism (as well as the key-operated lock) which you operate by hooking your finger into the little finger-pull recess and pressing it down; this means the drawer won't accidentally slide open in transit, for example.
While the lock isn't going to deter a determined thief with a crowbar, it's perfectly adequate for more basic security, and for keeping more delicate items safe (for example, to stop your kids using your microphones as drumsticks...)
All in all I'm very pleased with this, and bought the 2U one as well. You can get foam inserts to fit them too!