Check this site out for more pictures and colours and such.
If you think about how much you'd spend even at IKEA on a crib, change table, toddler bed and full sized bed, I think this is a great deal.
At IKEA (cheapest):
SNIGLAR crib: $79.99
SNIGLAR change table: $29.99
SNIGLAR toddler bed: $59.99
FJELLSE full sized bed: $49.00
At IKEA (ones I want):
HENSVIK crib: $139.99
GULLIVER toddler bed: $149.00
BRIMNES full sized bed: $129.00
Now even if you take the toddler beds out of the picture (because the side will come off the cribs) the cheapest set still comes to $158.98 and the set that I would get comes to $427.99. I would never get the cheapest set so really at the price that the convertible bed is, it`s a savings. Plus you only need to do slight adjustments through out the child's life to change it up.