I have a 4 year old and 1 year old and they love this toy. Cheap batteries don't last in this toy, you need the super high quality ones. As for butterflies not coming out, it works just fine with new batteries. You may have to bend the wings out a bit. They come folded in one direction, just flip them the other way, so they open up and look more like butterflies. The trunk stays up if you bring it up manually after turning it on and it will stay up even after turning it off. Don't use it on soft carpet because the unit will not turn on that way. You can solve that problem by placing a book underneath, though. My only recommendation is that they include more butterflies.
My oldest is now 8. The kids still enjoy this toy at the grandparents' house. It has lasts many years and both my children and my niece and nephew enjoy it. The trunk is getting worn but I'd say we've gotten our money's worth.