I bought this stand because my bass has a swoop in the body that lets it graciously glide out of normal stands. With the two arms being adjustable you can have any form of instrument sit straight. There is a litte arm for stopping instruments slide out to the left, like explorers do. My bass has an inverted explorer back, so it slides to the right. I took the stand apart and reassembled it the other way round (needs a bit of force). Now that little arm is located on the right and my bass sits tight, but i can not fold it anymore.
After a long search this remains the only groundstand keeping that particular bass upright, so i'm ok with the non-foldability my mod has given it.
Other than that, the Fender Universal Guitar Stand offers a good, solid quality and good value for the money.