I bought the ivory frame, but the color is more of a peachy taupe. Outside of that, it's a great looking bed and the fabric has a soft, microfiber feel to it without the sheen.
If you're getting this because you love the legs, you'll see them better if you can get more than 5 feet away from the edge of the bed. Not a huge deal for me, but I don't notice the legs much given the size of my room.
As for height off ground, it's 14.75" from floor to top of side railing, and the mattress sits 1" deep into the frame. With a 10" mattress, this about the length of my lower leg so it works for me.
The bed was easy to put together, but as other reviews mentioned, have a drill handy for the footboard legs.