The overall use of this product is amazing, very easy to use and my clients love it. The love the fact that they can do edits themselves.
It's good for what it is, which is a basic website maker that has the ability to make very function, nice looking pages.
Love that Squarespace introduced me to web design due to its ease of use. Templates are as great as Wix and both are really great competitors to one another.
The options are limited. Editing pages can be difficult because everything needs to be dragged and dropped into place, but most of the time all of the other blocks will shift during editing.
One of my colleagues who is taking over for me, really disliked how the Squarespace template prevented any changes. He contacted Squarespace and with their assistance was able to break the template.
The flip side is that Squarespace has few if any bugs, while Wix and Weebly can get strange errors in my experience.