Well, we didn't end up buying a Young America crib, but looked at them, and they were not priced anywhere near $1000. You asked if the convertible aspect is worth it or if it really works, and if you want it to be your child's bed from now until they go away to college and beyond, then yes, it works. We got a convertible for DD, not because I loved the look of them, but because we needed to buy other furniture for her bedroom anyway. We've been very pleased with how it functioned as her crib, toddler bed, and now her double bed. It's pretty rock solid as a double bed.
ETA: I think the bottom line is, whether a "nicer" convertible crib is worth the $ (and I don't mean $1000) depends on what you seek to get out of it.
Jen, mom to my silly monkey, 10/06