This is just what it should be, really, and maybe it deserves 5 stars for that. The instructions were confusing because there's an extra unexplained part, but I figured it out (you don't need the extra axle). I am not a serious biker; this is just to get some exercise w/o buying an expensive piece of equipment.
What I'd totally forgotten about what the noise a bike trainer makes (and this is the main reason I'm posting, in case you've also forgotten or didn't know). Looking online just now, I've seen it likened to vacuum cleaning, and that's about right. I'm not sure that any other bike trainer would be better on this front... maybe the rim trainers are. (Note: see the other review that explains that if you get other tires for your bike the noise will not be an issue. Me, I am not "serious enough" to buy other tires, much less change them.)
Bottom line: this is fine. If you can deal with the noise, get it.
Update (a few years later): I don't use this much any more, as I got an elliptical machine (which I prefer)... but I've realized this will be great for my summer away when I'll have my bike with me anyway. And if it's raining and I'd like some exercise, I'm all set.
To answer the question from the comment, it's quite easy to put the bike in and out. If you look at the picture, there's a faux axle squeezed between two pins/clamps at the top. The faux axle was the part that confused me. (Thanks to other helpful reviewers, I now know that this is provided to protect your real axle from scratches, if you have that sort of a bike). Your bike goes there, and you just tighten the pin/clamp things to hold the bike in place. The wheel rests on the part at the bottom which might need adjusting for your particular bike, but once that's set, your bike will go in and out without much fuss.