We spent a night in this tent with near-constant drizzle and several half-hour or longer heavy rain showers, one of which would have qualified as a downpour even in Florida. There was no detectable water in the tent the morning after, and we did no additional waterproofing. Do take the time to make sure that if you set this guy up, you use the stakes to pull the material taught. I can see a few places that, by design, might allow water in if the water were allowed to pool and collect there, that's not the point of a tent... protect the designed angles, and you'll be fine.
The tub floor also functioned as intended... although it's a little thin for my liking, thus the 4/5 value and 4 stars instead of 5/5 and 5. It did keep us dry, but I felt the need to use a tarp underneath the tent to protect against snags and tears in the flooring where if the material were just a bit thicker I would have passed on it.
The set up process is extremely easy, if you read the directions. But it will take longer than a minute if you include securing the rain-fly properly and staking it out. I did it alone and had it upright in that time, but the fly and stakes took another couple of minutes.
All in all, and this is from a person who is generally brand-snobbish and wary of "economical products", this was a good buy so far.