I've had mine for about 10-15 years. Before I started quilting I made cards, invitations and party favors. Now I use it for geometric cuts. I have 6 or 7 strip cutter dies, several squares, and a couple of sizes of hst. Although I have hundreds of shape dies, I haven't done any appliqué yet, but that's on my list. I also have the winding ways die.
The cutter does take up a fair amount of counter space, but the accuracy is great. It's not magic, though. You still need to prepare your fabric as though you were going to cut it by had, starching and carefully pressing.
The dies are more expensive than the go dies, however, you can get a shim so you can use the go dies in the Studio.
Another advantage of th Studio, is that you can lay the excess fabric in the tray which often allows you to use a die without pre cutting the fabric.