DD is 3 1/2 months now & weighs about 14 pounds. Ours only holds up to 15 pounds & she is still in our room. I wish I'd had one that would hold her longer because I'm not sure I'm ready to put her in her own room. It should last you at least 3 months.
I've read you aren't supposed to use bassinets past 3 months. We just transferred DD to a crib last night, it was a little early but I kept finding her pushed up against the side of the bassinet and it freaked me out. I wasn't ready to not have her in our room so we moved her crib into our room. It's a tight fit but worth it for my piece of mind. They recommend DC sleeps in parents room until 6 months due to SIDS.
Re: Bassinet
DS is still in his bassinet, he is almost growing out of it though. He is 16 lbs