Solid construction with nice fit and finish as expected from Park Tool. It struck me as a frivolous purchase but in fact it's been quite useful in practice, especially when working with steel bolts, a steel bike, and mostly-steel work stand. The combination makes it possible to place the bowl on just about anything within reach, including vertical surfaces, and have it and its contents stay securely in place. Wouldn't be quite as magical for someone working mostly with aluminum and carbon fiber I imagine.
It would nice to have leg locks (for open and close position) so it can moved without the legs flopping around. I often only have to move it a few inches since I have a small workshop, but the legs are a problem. I put Velcro straps around them to hold them in place. I may drill holes and add bolts. Also when storing the stand, the legs are not cooperative; I have to Velcro them shut. The vertical adjustment isn't very smooth. I had an older, much cheaper stand that had a smoother vertical adjustment (may be due to the rougher texture paint on this one). I bought this stand for the durability, sturdy base, and clamping head. I knew the legs may be a pain, but could fix those.
Ride enough, and sooner or later, your derailleur hanger will become misaligned. And when it does, shifting suffers. You could take your bike to the shop and pay a mechanic $35+ to realign it, or you can pick up this tool and do it yourself in a matter of minutes. It's simple to use, and Park Tool has a great You Tube video that shows you how to do it right. Two realignments and the tool has paid for itself. Like all Park Tools, this alignment gauge is well made and will last. It's a solid investment for anyone who enjoys working on their own bikes