We got a toddler bed fro MJ 2 weeks ago...
Its been fantasti. Uses the cot mattress and is about 1cm from the floor.
ot ours from spotlight when they had a big sale on and it only cost $160 and came with tables and chairs and a a storage thingy.
Its not the normal type of bed that i would by (disney and metal/plastic) but it does the job really well.
She fell out the 2nd night and there was No issue, as it was so close to the floor - ther are little bumper rails near the head end, but she spins around in her sleep.
There were tears, but because she didnt know where she was, rather than she had hurt herself.
We went to this as MJ was trying to climb out and i was so worried that she would hurt herself.

Didnt use one for DSS, he went straight to a big bed at the age of 2