My *personal* feeling on this is that unless a dog has a medical problem that keeps them from being able to reach the ground, then buying one of these is unnecessary - Dogs eat off the ground in the wild, so why take the risk?
I've always elevated the food and water bowls because one of our dogs is a Great Dane and this was recommended. I have heard arguments against elevation as well. All that I can say is that our Dane is 6 years old and we've not had a problem with bloating.
We use one very similar to the one you posted, Deb. The difference is the height is adjustable (we have it on the lowest setting) and there is room to store toys in it. Dex eats from this and Kirby has just a normal bowl on the ground. I only got the elevated feeder for the storage aspect and because it holds the bowls in place. I've heard arguments for and against them...
The labs I grew up with never used elevated bowls and were just fine but I did use such a bowl when I had my Great Dane as it alliviates the chance for bloat in the giant breeds. I would say with a medium sized dog it is really your choice as they do ok either way.