I had a PNP for #1 and kind of hated it. He grew fast and was too heavy for the bassinet part really early on (15#) and getting him out of the lower part was really hard. It was also really low compared to our moderately tall bed.
I got a Halo Bassinest for #2. I haven't used it for anything but storage yet, but I am hoping we'll like it. The co-sleeper makes me a little bit nervous because I had a lot of anxiety about rolling over on baby in the early months with #1, and that made it hard for me to sleep. Having a completely separate surface but where I can still bring baby really close to check on him sounded really appealing.
Who knows how it will work in reality, though?
We used a swing or just held baby for naps for the first few months.