We've had one for over a year and LOVE it. I had a cheaper bottle drying rack and really hated it - it wasn't very stable and didn't hold enough parts. We don't use bottles (never have really) but between breast pump parts (when we were pumping) to sippy cups / other plastic parts now - we use the Boon drying rack all the time. In fact, I found a gently used one for $4.00 the other day and bought a 2nd - I figure with baby #2 on the way we can use the space. Our 1st is always full of stuff drying (I use it for my own kitchen stuff too!)
We do put a towel under it to catch drips from things hanging off the sides. They make these cool "trees" that are like branches to stick things on - we might get those for the pump parts, too.
You will need to wash it now and then b/c the dripping water can grow mold on the white tray. We send both parts through the dishwasher; I also sometimes do a bleach soak and use a q-tip to get into any corners of the white tray that didn't get clean enough (but i"m really obsessive about cleaning).
Definitely worth the money. We've used ours for 2 years (we had the original Grass one with DD). It worked great for holding her bottles and all my odd sized pump parts. Then I found that it worked really great for her sippy cup parts and odd sized kid stuff like toddler utensils and bowls/plates as she got older. It is easy to clean and has held up great with 2 years of daily use.
We love ours so much that we went and bought the Lawn (and now have both of them on our counter) so we'd have another one ready when baby #2 arrives this month.