When you say "(REI actually lists this as a two person tent)", please they actually carry this one and the 2.1 version. The 3P capacity is determined by the manufacturer, it is not up to the retailer to decide.

I just bought this tent a week ago. It is smaller than I expected. It says 38 sq. ft. floor space, but I would say usable floor space is about 30 sq. ft. at best. The floor curls up on the sides about 4 inches each and about 3 inches on the ends and it is a tight pitched tent so that space cannot be pressed to the ground and actually used for anything. By my measurements the seam to seam floor is 88" x 62" but the usable on the ground measurements are 82" x 54" and that is being generous. That gives real floor space of about 30 sq. ft. I am 5'9" 140# and I think this tent is perfect luxury for two of me (REI actually lists this as a two person tent). Considering the loft of a sleeping bag, I think anyone taller than six foot would wish they had a longer tent. I bought it to be a spacious 2 person tent for myself and my girlfriend and I think it will fit that use beautifully, however, wouldn't you know it, my first expected use turns out is likely me and two guys and I'm not sure I can really use it for that. It has thoughtful features and quality construction and a blind monkey could set it up in 5 min. I think I will be happy with this tent because my intended use was as a spacious 2 person tent, but if I truly was after a 3 person tent I likely would return it to the store. As far as performance, I'm confident it will be superb.

The 08 version is longer and lighter