I love ours--it is a graco that I bought in 2000.
They are easy to set up when you have it figured out. I remember cursing the darn thing back in 2000, but by my fourth kid--easy peasy. Not an issue at all. It has mechanisms in place to prevent collapse, so there is a particular way the pack n play must be positioned to collapse it. If you don't have it right (and it isn't hard to get it right), then you will be able to collapse it each and every time.
My kids do prefer to sleep with me as babies, but the pack n play is nice as a makeshift crib.
I don't even have a crib now for the baby.
It was great as a basinette...using it without that feature, can be difficult on the back, but I have back issues and don't find it difficult at all.
And ours was basic. A navy blue color. Nothing fancy at all. You don't need all the extra gadgetry IMHO. I didn't even use the changing pad feature, but if you have the bassinet, it probably will come with the changing pad anyway.
We do NOT travel with it though. Takes up too much room that is needed for our luggage.
ETA: I believe also--that once baby rolls over, you can no longer use the bassinett. I used my a bit longer than I was supposed to. But it is less than 4 months (probably sooner, I just cannot recall when baby rolled over and she's the 4th, so we didn't document that stuff. Lazy--yes.) I wouldn't buy something with features that can be used only for a very short period of time, regardless of how neat it is. Those shelves will be useless once baby rolls over unless you are using the whole thing as a fancy changing table.