Reasonably confident that this will pass the test of time. It's built like the proverbial out-house. My previous vacuum was also a Panasonic that I picked up at a car boot sale 10 years ago for a fiver, and is still going strong (not even so much as a snapped belt in all that time... maybe I don't clean enough), but I spotted this model at a bargain price that was too good to leave on the shelf.
I can only echo what others have stated. Cleaning power is awesome; having cleaned the previous day with the old model, the dirt this one picked up straight off was impressive, if slightly alarming. And on the kitchen floor with the beater bar turned off it becomes quite hard to push, almost sticking to the floor, it's that strong. If your vinyl floor isn't well anchored, this beast will have it for breakfast.
It is, however, massive. I do worry that if I get a little over-enthusiastic and whack the table leg with it, it'll just plough on through. Sure it'll be fine though, certainly better than being flimsy.
Only knocking one star off a full house because again as others have pointed out, it is heavy and a bit tricky to manoeuvre in tight spaces. Also I've found the filters get clogged up quite quickly (despite the twisty bit on top which is meant to rattle the dust off) but this could be due to years of built-up fine dust in the carpets, it might be OK from now on...
Finally the only bit which does appear a bit flimsy is where the extension tube is stored on the side, as it doesn't appear to clip in and just sits there wobbling about. Maybe I haven't put it in right, but I can't see a way to secure it.