When we realized our old monitor was missing the receiver, we hopped into the family van and took a trip to good ol' Babies R Us to get a new one. I made the mistake of not really researching before I went, and ended up shopping by price, and of course, you get what you pay for. Not that this is a bad monitor: it certainly serves its purpose, in that I can hear if the baby is awake or not, and the lights help me to tell if she's fussing or playing, since they are sensitive to the decibel level of the baby's noises. However, my main complaints are:
1) Durability- Obviously, if you are needing a monitor, you have children. Where there are chidlren, there are accidents. The receiver end of my monitor was knocked off the counter, once, by my 5 year old, and has never worked right since. It was only about a 2.5 foot drop.
2) Sound- Although the reception is very sensitive (you can hear the girls' clock ticking when there's good reception), it is very difficult to find a spot to set the receiver where no white noise comes through. Nearly everything in the house seems to interfere with the receiver, from cellphones and TV's to kitchen appliances. It's the sort of deal where you find yourself moving it one inch this way or that way to get a clear sound.
The range on this is pretty good, we're able to take it out in the yard with us when she's sleeping, and we can hear her when she wakes up, albeit over a hiss of white noise. However, the nightlight feature on the base which Fisher Price claims will allow you to "meander about the nursery" barely lights up the area it's sitting in.
All in all, it's not a bad monitor, but I think if I were to buy another one, I would research first and pay the extra money for a better model.