For the price I got it for, I can not complain, and it does look pretty good.
It should easily handle a bigger TV than 55". I dare say a 70" or even 80" would be ok, but one might want to use the wall anchor on it. It will depend on your TV's weight. An older TV would be much heavier for the same size as a new LCD one, and I think that's why the 'limit' of size instead of weight... easier to tell people that, yes? :)
Now, you don't have to use the stand to hold the TV, as you can also use it to hold the components, and hang the TV on the wall. That bracket setup will *easily* handle a much bigger TV than the stand would. So there's that for ya. And you can also just forego the raised mount and plonk the TV on the top shelf, if it fits on it. They say up to 155 pounds, so a small child could stand on it. Don't do that, but hey, there it is.
The unit looks good overall, as long as you don't mind the darker color scheme of black and dark brown. It's fine for me! However, I don't know if it's my fault or the stand itself, but it has a... tilt to the shelves... or maybe the TV... I don't know, the relation is obviously off. I'll continue to investigate if I bother... mostly don't care, the TV seems level, and I'm just not that into investigating it further, rather watch the TV. :) Still, because it's either slightly flawed due to shipping/storage/my ham hands or whatever, I can't give it the full 5. There's no real adjusting to do that I can see, the shelves mount one way and you move to the next step. If I could give it a 4.5, definitely, but they don't let me do that.
Regarding assembly, you'll want plenty of room to play in, but the box comes with *everything* you need except a couple of tools that most have. Screwdriver, razor will be needed. I went and used a rachet and socket hex tool instead of the included allen wrenches because hand hurt avoidance.
It even comes with a paint pen to fix flaws if you scratch it up. How cool is that, right?
So if you need/want a fairly inexpensive for the performance/looks, sturdy, capable, decent looking TV stand... this here's pretty good stuff!