We have the previous model of this monitor and we really liked it. When we had another child, we decided we wanted another camera. We could not easily find another camera to go with the same model (no longer sold at Best Buy) but we thought the new model would allow us to sync the camera with the old monitor (or vice versa) so we could just carry around a single monitor. Unfortunately it does NOT which is sad but somewhat expected.
The image quality is great and the signal strength seems to be strong, although having both monitors next to each other causes them both to drop, so we had to move them to separate sides of the bed, and even then it can still occur occasionally.
The real irritation is the new power cord. The old one had a nice round plug that you could feel in the dark and put in pretty easily (in any 360 degree rotation). The new plug is more like a micro USB plug and is VERY difficult to pull out or put in and goes in only one direction. This makes it really hard to use at night without a source of light nearby.
Additionally, the lowest volume setting (1) is SUPER loud and can even pick things up from other rooms. Generally this is good, but it means that you are forced to hear EVERY noise your baby makes. For an infant, this is fine as we want to know if he's spitting up or choking or something like that, but when he gets bigger, I worry that him rolling over or sneezing or something will wake us up which is unnecessary.
Overall, it's a decent product if you can get past those annoyances. Essentially, we just use something to muffle the sound a bit if needed and we never unplug it (our bedroom is the only room in the house where you can't hear the baby anyway, so no need to move it).
If you need a monitor, you should definitely look at this one, but you should also look around a bit to see if another one meets your needs better.