In my expereince, the diaper genie works.  Once or twice it didn't cut right, but overall has been fine to work with.  The problem I have is the price of the refills.  I honestly couldnt keep spending 5 dollars everyother week to keep up with it!  So I've been just sticking garbage bags in there to at least keep the diapers covered.

Currently, I'm trading it with my mother, who's helping take care of a 18 month old with really stinky diapers.  The saftey first diaper bucket she bought doesn't keep the smell out and has to clean it constantly because the bucket itself starts to smell.  My daughter's diaper's still arn't that potent, so we can take her bucket and use trash bags in it like we have been doing. 

In summery: For her, the Diaper Genie will work, because she has the money for refills, doesn't mind changing the pail too often and loves a clean (smelling) house.  For me, the saftey first bucket is better because we don't need as much oder protection, it takes normal garbage bags, and it hold more, so I don't have to  nag my husband to change it as much.  Hope this helps!