The quality of the HCGS-523B stand is what you'd expect from a company like Hercules.
It has adequate space to store three instruments without any of them banging into one another, that is unless for some reason you need to move it while it's loaded: the accoustic instruments don't move at all, though you may find that the electric instruments rotate slightly - in any case, they won't fall off the stand in any circumstance.
The foam padding is thick enough to support the weight of the instruments, though I'm not sure how will it interact with nitro finished guitars so extra care must be given in such cases.
The assembly was a piece of cake (well, it's just a one-piece-design) and the rack looks great. It's main use is to store my buddies guitars when they come to my place to jam together (I don't own that many guitars myself to store them anyway).
When not used, the folding mechanism makes it easy to store away under the bed or behind the couch, whereas the light weight makes it easier to carry it over to another place when needed so.
All in all, it's a great stand; well constructed, lightweight, stable.