This stand folds up fairly compact and is very lightweight. Thus endeth the positives.
It's quite flimsy and twisty for a guitar stand and, because it's so lightweight, it over-balances very easily, meaning your delicate and precious guitar is much more likely to hit the ground than with most other guitar stands I've used. I eventually gave mine away, as simply having it around my studio made the possibility of a damaged instrument more likely.
I'd recommend the Millenium GS-2005 over this any day, as it's also lightweight and compact, but is quite a bit more stable. I use it in my studio all the time for clients to put their guitars on, and it's fine for light duties.
If you want a REAL guitar stand that folds up, go for the Hercules Stands GS401B. Although relatively heavy, the Hercules stand is extremely high quality, quite compact and very, very stable.