We've had this since the birth of our little one and it's been brilliant. The peace of mind provided by the ability to see as well as hear her, and see that she's breathing, is great for first time parents (and I expect will be the same for second time around!). You can use it in a number of modes, with video on/off, sound on/off (useful if you have it on for the movement pad when little one is in the room with you) and with or without the movement sensor. The latter displays as a little pendulum when on, so you know it's working.
It does take a little learning, especially on the sensitivity settings on the movement sensor pad, and we found that when used in the bassinet we had to pad up under the east of the mattress as they're quite thin for bassinets and the sensor created a slope otherwise. However, work through these things and it's definitely worth it. Friends with kids we're without fail impressed and left wanting one. It just does all you want. The parent unit is also very transportable with a great battery life.
The child unit has a screw hole to mount it on a camera tripod type fitting. We'll worth getting a cheap camera clamp or mini tripod online. We got a £5 clamp and clamped it to a shelf and it worked a treat.
There are just two negatives that mean it's a four star rather than five. The first is range, which isn't great. It's fine in smaller houses but in larger ones you need to keep an eye on it when straying further from the child unit. The second is that the child unit on ours has died after just over a year. We're just in the process of contacting angelcare, so can't yet comment on if we're able to get it fixed, but either way at the price I'd have hoped it would be more durable.