Sunbeam and hardee, thanks for your comments. My wife likes the fact that the top step is even with the gunwale and makes that first or last step (boarding or leaving) feel safer. Two issues to point out are these: first, the cutouts at the bottom, to fit over the molded cockpit step, mean the unit doesn't stand up by itself in the up position. I couldn't figure out a way to avoid that. Second, in either position it is still pretty big and can't be tucked away out of sight if you don't need it. Time will tell us how it works in the boat while cruising.
Richard