Features:
The stand's tripod configuration offers ample stability and enough clearance for the pedals and drivetrain to operate when being serviced. The head mechanism can be raised (up to 16") out of the vertical tube. It can also be rotated 360 degrees, allowing it to be locked to a horizontal part of the bike (like the seat post), or a vertical part (like the top tube).
Fittingly enough, the stand itself incorporates bike parts: The bottom of the vertical support is the seat tube off an old, steel road bike (note the bottom bracket left in for effect). The head mechanism uses bike seat quick releases for both raising/lowering, and rotation.
I might also note that this design uses sections of common, straight pipe (elegantly configured, in my opinion), rather than curved elements found on other more complex designs. As such, I feel this design has realistic commercial credibility.
Stable and adjustable.
Storage:
The supporting legs are held firmly in place by large wing nuts that can be tightened sufficiently by hand. Once the screws are loosened, the legs fold down for easy storage. They may also be completely removed for transport (as can the head).
"Praying" position.
Folded for storage.
[Mantis]