Just last night, we were discussing the crib again. We came to the realization that a convertible crib (crib/toddler bed/full-size bed) may not be the best option for us. Our bedrooms are a little on the smaller side. A full-size bed in one of them is not going to leave much room for play. So with that being said, we thought we had made a decision, but now we do not think we have!
Here is what we have narrowed it down to:
1. JC Penney- JC Penney has their own line of cribs. We know many people who have used and loved Penney cribs. We have seen them, placed sleeping babies inside of them, and picked up screaming babies out of them :-). We are very impressed with the quality. The ratings online are very good, especially in terms of safety and quality. The only negative press I have read indicate that shipping can cause issues. I am comfortable with that being the only problem, as long as we order well in advance.
These are the two Penney cribs we are considering.

This is the Grayson model. This converts to a toddler daybed, as well as a full-size headboard and footboard.

Here is the Bella model. This converts only to a toddler daybed.
Now, the final crib we have narrowed down is from Babies R US. It is a Babi Italia, Pinehurst Collection. This crib is rated number two on the Consumer Reports convertible cribs ratings! It converts to a toddler daybed and a full-size headboard/footboard.

We still have plenty of time to make our decision. Any feedback from my readers??