I bought a cradle on wheels but my baby isn't due until August so I can't tell you if it's a good choice or not! Everyone has told me that I'm mad and to just put the baby into a cot in the spare room. Anyhow, I ignored them because:

a) I want the baby in our room to start with, within reach and eyesight so if he's making a bit of noise, I can gauge whether I need to get up or just give him a little rock. I've chosen a cradle that rocks so hopefully I can just reach over without getting out of bed myself. Obviously, I will be getting up if he needs feeding/changing!
b) Our bedroom isn't massive so I'd rather have a cradle than a cot in there. We were told that portacots weren't suitable to put the baby in every night. Don't really believe that but that just made the choice of cradle easier.
c) I don't really like the idea of baby monitors. I know I'll be lying there listening out for something. I'd rather have the baby next to me at first so I know exactly what's going on. I realise that I may rapidly change my tune after a few weeks and be a baby monitor convert!
d) The cradle's on wheels so I can move it into the living room during the day (though I might use something else for daytime).