I got this as an early X-Mas gift from my FiL. While our daughter hasn't arrived quite yet, we've taken full advantage of trying it out with the other kids and testing out it's features.
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br /I didn't want a convertible car seat, but he definitely changed my mind when he showed up with this one!
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br /It reclines back far enough to suit an newborn, the back panel slides up and down to adjust the straps without having to take the whole thing apart and it can accommodate up to 80 lbs.
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br /We won't need another car seat.
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br /The only con is not being able to take it in and out of the car easily, like an infant seat that snaps into a base. However, I still think all the features make up for that.
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br /I highly recommend this product to anyone in need of a good seat, though it is cheaper elsewhere!

Update 10/27/2008: After using this seat for nearly a year, everything in my original review holds true. We've now used it in the front-facing orientation, and I find it slightly easier to install (using LATCH) in front-facing orientation than rear. Not a lot, but it's not quite as maddening. If you're using it with a seatbelt, it's easier to get it tight, at least in our vehicle. Still, we try really hard to not have to remove this carseat for any reason, because it's a pain to reinstall.
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br /As mentioned previously, the harness straps want to twist through normal use. This has gotten worse over time. It's annoying. Our Britax Roundabout doesn't do this.
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br /Baby is still comfortable, and the adjustable back-height is nice as he grows. Our Britax is harder to adjust for shoulder strap height.
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br /In summary, we're still lukewarm on this one. It's better than many out there, but I really wish we'd spend the extra change and gotten a second (excellent) Britax Roundabout.
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br /Original review:
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br /We bought this as our second car seat a few months ago. I liked the easy height adjustment, and my big son fits pretty well. The padding is good, and seems pretty safe. The harness is good, although the straps want to twist more easily than our Britax Roundabout. The lack of velcro holders to keep the straps apart for easy entry is missed (The Britax has these)
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br /The real problem is the rear-facing latch mounting. This seat is insanely difficult to install with any sort of tightness or security. There are a number of factors:
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br / 1) The shape of the seat bottom doesn't mate well with either of our cars (When rear-facing. Haven't tried forward facing yet.) If it matters: Honda Accord and Honda Element. All back seat positions have been tried, and with various bolsters.
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br / 2) The latch strap adjuster doesn't hold well. It always 'seeps' a small amount of strap after you tighten it, before it 'catches'.
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br / 3) The latch strap is only adjustable on one side, and it doesn't cinch up from hook to hook just by pulling on it. Therefore you have to pull the strap through the seat, HARD, in order to get all the slack on the adjustable side, then pull HARD on the adjuster strap at *just* the right angle, all while leaning with your entire body weight to compress the seat into the car (see #1), then pray the adjuster holds fast (see #2). Then check your work, find the seat is still inexplicably loose and floppy (see #1 and #2 again) and repeat the process. Maddening.
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br /Contrast this to the Britax, which goes in, nice and tight, without a fuss, cussword, or single bead of sweat, every time, even by my wife, who is gratefully much smaller than I am.
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br /It's also worth mentioning that the latch hooks on this car seat are the common metal hook found in all cheap seats. Once you've used the britax jobbies that click on like a seat belt and click off just as easily, you won't ever want to go back.
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br /In summary, this is a good carseat that's really hard to use, at least in a rear-facing orientation. Again, haven't tried forward-facing yet. It's not at all cheap, so if I were to do it again I'd spend just a little more and get another Britax Roundabout.
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We got in an accident where we should have all died...and low and behold my daughter had not a scratch.
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br /of course you can only use the seat once but, it saved her life so I am okay with that.