Can anyone recommend a good vacuum?

Well, CRChair and I have killed our first vacuum. It was an el cheapo model that we got from Wal-Mart our first week in our new apartment - all plastic and under $50. It lasted about a year. Then it choked on a piece of yarn. Yup. That is right. A piece of yarn. Bound up the motor and it burned out. Well, I have been researching new vacuums and am amazed at the price differential. Everything from a $20 el cheapo, to a $600 Oreck XL you hear about on the radio, to a $1200 hypo-allergenic machine. But what I want is simple. A good vacuum that will last me a decade, and keep the place clean. Any suggestions?