I have a Klaussner twin bed sleeper that I have had for about 6 years now I like it very much. Klaussner is not a High end of course but for general use it is not bad.

A trundle bed might work... I am getting one for DD's room, but I guess I thought trundle beds were more for younger kids or girls. Not sure why I have that impression. I should have explained better -- when we have company, DS #1 will give up his room (biggest bedroom) for guests, and he will sleep in DS #2's room. The boys are 17 and 14 so it's not like they want to sleep near each other, so I thought something more "across the room" would be better than a trundle. I don't think we would have space for a full size futon, but I didn't know there was such a thing as a futon chair -- I'll have to look for that. We also have a few inflatable beds around the house but I'm thinking I'd like something a little more substantial for this situation.

Well wouldn't you know my luck...I have fallen in love with that Purple Chaise and Penney's website is saying it's not in stock (no future date given) Figures! I did find it on another website for the same price as Penney's but only in Pink. Look how cute it looked with the purple and a floor lamp I found on Ebay for only $54. So now I'm googling again. OR I could just get it in pink...hmmmm? THANKS for all your help everyone!

Totally agree with you on the form factor of the futon. I am not loving it either. But we have it and until I find some thing better in my price range. It is very comfortable to nap on left in the couch position. Also to sit on and read. I pull the desk /sewing table chair over for feet up position. It is a small cheerful room that makes me happy to be in. Our company said the futon is great for a few days. He usually spends 4 or 5 nights with us at a time. I added a foam topper on it. Drawbacks on other sleeping options. Twin love seat sleeper will not be long enough for our friend. He sleeps cross wise on the full sized futon. The click clack couches are darling but also too short. We have cats that will claw so air bed is out of the question. LOL The nicer looking couch futons are so uncomfortable. Fold out beds usually have the bars in them in the center of your back unless you can get the ones with springs all around the edges and a mat to hold the mattress. AND the fold out beds take up more floor space when open if that is an issue for you. You should be fine in a 10 by 10 room though. I would think my best option should I ditch the futon would be a murphy. But then I do go in there and nap on the futon some times so that would be over with. Also when I am sewing I find myself sitting down on the futon to do little bits of hand work when needed. We did buy the upgraded mattress. I am not trying to talk you into a futon at all because I totally think they are ugly as sin. I did doll mine up with pretty comforter and pillows and a friends granddaughter said the guest room is very girly. LOL