I bought this tent when it was on sale at REI for $350 (2008 version) and I am glad I did. I had been looking around at tents to find one similar to my MSR Hubba Hubba in terms of structure and this one sets up very close to it. I wanted a comfortable 2-person tent and this does the trick (I use my MSR as a solo).
The tent is versatile and about as light-weight as you are going to get for the size and price. I haven't been through any storms with this one yet, only sunny warm weather. I do recommend getting the footprint, as I do with every tent I own to increase the longevity of the floor.