My 2 1/2 year old nephew received this for Christmas and was very excited. However, two hours later when his dad, grandpa, and uncle (all highly skilled engineer-types) were still working on sorting out the nuts, bolts, and how to fix the bent axle so that the pedals would actually turn, he was sitting staring sadly with his head on the steering wheel saying, "But it's my truck . . ."
Grandpa commented that they sure hadn't changed how they make pedal trucks from the 1940s when his best friend got one. This is a good thing (durable construction) and a bad thing (lots of pieces and parts, heavy, hard to steer and pedal if you're small enough to fit in the thing.) Once it was put together and my nephew crawled in, it was apparent he was not going to be able to make it move by himself, at least on the short carpet in the basement. And he is a tall, strong, coordinated 2 1/2 year old. His four year old sister started pushing him, which simply led to crashing into walls and cabinets--their dad started scheming how to use pipe insulation to fashion bumpers and save the finish of his recent remodel until the snow melted in the spring and it could move outside.
All in all, my feeling is that if you want a sturdy, old-school, good-looking gift for a strong kid who loves trucks, this is for him or her. If you want something easier to put together that is light and easy enough to pedal/steer for most little ones, you might want to consider something cheap and plastic that will fall apart in a couple of years. One note on durability: my brother and I had a cast-iron John Deer pedal tractor (very similar design) 35 years ago and it still works!