Pretty decent

This 5 in 1 bassinet from the First Years works pretty well. It certainly has some advantages and disadvantages, yet the benefits still prevail.
1. the price was great! We paid $130 and got it from walmart, it was delivered to our condo very quickly. Don't forget about the cashback when you order stuff online! 
2. It is convertible, you can use it as a changing pad and a  bassinet; it has the handle so you can carry the bassinet around to keep the baby close.
3. It plays nature sounds and a short classical song, it also has the mother's heartbeat sound. Thus we didn't have to buy the Sleep Sheep or one of its varieties (for $40 - how economical is that!).
4. The covers can be removed and washed.
5. The bassinet can be rocked to the sides to soothe the baby.
6. The bassinet has wheels to move around.
7. The bassinet has wheel brakes to make sure it does not roll anywhere.
8. It has the night light, which I find pretty useful, you don't need to look for a flashlight every time the baby cries!
9. It has a huge basket underneath for all the crap you want to store in it. I personally always run out of empty drawers, so the basket is pretty helpful.  
10. Easy to assemble.

On a negative side:
1. Too much ruffles around the bassinet! We were told in the parenting class that all these ruffles were extra and unnecessary. They are not very breathable. There is some mesh, however, where the baby's head lies, but the ruffles still cover this mesh! I understand they are pretty, but safety should come first!
2. The straps are difficult to remove! Imagine the baby sleeping in these straps between the legs all night! It is utterly uncomfortable. It is great you have these straps to carry the baby in the bassinet around, but how on earth do you remove them when the baby has gone to bed!
3. The mattress is oval - hard to fit the sheets around it. Honestly, I would prefer the rectangular mattress.
4. The bassinet just sits on top of the stand with the wheels. When you need to carry the baby around - you just grab the bassinet handle and carry it along, but (!) I would rather like to see some safety features to keep the bassinet attached to the bottom. I would be afraid of the bassinet falling off it if the baby is hyper active. The manual that came with the 5 in 1 bassinet read that this bassinet works great up to 6 months, but the baby is pretty active when he is 6, right? The bassinet can simply tip over!
5. The bassinet does not have any legs or other support when you remove it from the stand. Okay, you carry the baby in it, but once you want to put it down, should there be any legs for it to sit on the ground pretty well?  
6. The ad claimed we could keep the bassinet right next to the bed, that is it adjustable to the height of the bed! That's not quite right! We have a platform bed, which sits pretty low to the ground and the bassinet does not adjust to the height of our bed! It still sits pretty high. Why could they just add a little more holes in the legs of the bassinets to be able to move it further down to fit any beds around the US!
7. Lastly, the 5 in 1 bassinet does not fit through our door jambs! The bassinet itself does fit, but when it is totally assembled - it does not. The wheels get stuck in the doorjamb. What a disappointment.