It does what you expect, with K&M durability.
Assembly was simple, but I needed to apply more force than I'm comfortable with. Now that it's set up, though, I expect to bequeath it to somebody in my will.
Cage-nuts are supplied and work nicely. If you're not experienced with them expect to lose some skin and swear a lot the first few times you use them. Needle-nosed pliers can help. However, once they're installed, you can balance a rackmount device with one hand while twirling screws with the other, so overall they make life much easier.
As others have noted, there's a ninth set of mounting holes, so if you have a shallow device, you can mount it right at the bottom and get that extra bit of value from the rack.