That is NOT the folding version of that trailer. This one is -
http://www.harborfreight.com/1195-lb-capacity-48-inch-x-96-inch-heavy-duty-foldable-utility-trailer-with-12-inch-wheels-90154.html
I have one and it works fine. I've hauled all sorts of stuff with it over the past 5 or 6 years and never problem. A couple of points:
Lists for $399, I paid $279 on sale.
It is extremely light and bounces if you tow it empty.
I cut a sheet of plywood in half and screwed the pieces down for a floor. Fit was perfect.
It folds up into a tall thin package so you can store it. I can do it by myself, but it's definitely easier with two people.
It comes with stake bed brackets and simple instructions for making gates out of 2x4s.
I don't like the fact that it takes a 1 7/8" ball. Everything else I tow uses a 2".
The casters were cheap and finally came apart. I replaced them with better wheels.
The fenders vibrate and need another brace. I haven't done that yet.
I suggest repacking the wheel bearings from the start because I've heard of failures from lack of grease.
If you need a cheap trailer that folds up for easy storage, the HF trailer will probably do everything you want. If I needed one, I'd buy it again.
ETA - Feb. 26, '14:
On sale for $269 - use coupon code
16065434. Printable coupon at bottom right -
http://www.harborfreight.com/