Great, with some exceptions …

It is the only plugin that allows you to actually use your own, real folders to organize media. If keeping your media organized by folders is important to you, you will want this plugin. The interface is a little clunky, but it works. You can upload media within the mlf system, or upload via ftp and then have mlf rescan so the media will be recognized. You can also move media to different folders, and the associated links within WordPress get updated, which is excellent (there are other plugins that can do that, but it’s built in here, so those are not needed). For these reasons, I highly recommend this plugin!

Now for the “except” …
1. Your folder structure will NOT show up in the add media window, unless you purchase the pro version. The media will be in the usual library, but you will not be able to see the folder structure you create in media library folders.
2. You cannot upload to your folder structure from the “add media” window (while creating a post) – you need to first upload the media in mlf, then add it to your post. Just matters of convenience, but for those reasons I did purchase the pro version, because it adds those features. The pro version also comes with a bunch of other stuff I don’t need at all.
3. The biggest caveat to me is that the pro version ONLY works as long as you have an active license. When the license expires, the extra features are removed. I have never used another plugin that actually quit working after the license term. Typically they keep working, you just don’t get any updates or support. Also, the license expired screen promises a discount when you renew, but there is no discount. Although I probably would have renewed at some point for the updates, the policy of removing features on license expiration is a huge turnoff.