I love mine
Out of all the vacuums I have, if I was forced to go down to just one vacuum, it would be this one. Powerful, quiet, effective on any type of carpet, tools and hose attached, brush-roll off/on switch at the handle. Mine even has automatic motor control, which is a little gimmicky, but it works.
For me, the two things that I like most about it is the brush roll can be turned on/off - I have 50/50 hardwood/carpet/linoleum, so going between them all is easy peasy. I also like having the tools and hose on board. If only I could get a Kirby that would do these two things.....
Biggest cons: 1) It will not clean as well as a canister on bare floors - it works, but not as good as a canister with a good bare floor nozzle. 2) It is heavy, as was mentioned above. It's as heavy as a G-series Kirby, and if your carpet is thick, its a wrestling match to vacuum. 3) Parts for these, for a consumer, are very difficult to source. If you're going to have a Miele, you're almost certainly going to have to have it serviced by a shop. They've definitely done a good job of locking down their parts supply to dealers-only.