I was a little worried about getting this considering some of the negative reviews, but I love it and haven't had any of the problems reported by others, such as the magnet not holding it securely enough or spilling due to the angle. I positioned it on my fridge directly next to the handle on the freezer door (I have the old school over/under style fridge). As another reviewer mentioned, having something integrated to catch caps would be a nice touch, but it's really not that big of a deal to just catch it afterwards. The main reason I got this was so I wouldn't have to go fishing around for my bottle opener in the utensil drawer every time I want a beer, and this works perfectly for that purpose. I realize that makes me sound pretty lazy, but whatever... Don't judge me -- you don't know what I've been through!
A side note: I bought mine directly through Amazon, so I can't speak to the quality of those sold by third party vendors. One reviewer said that he/she might've received a cheap knock off from a third party vendor, but the one I received from Amazon seems to be legit, and I've been very satisfied with it.