It depends on how you're going to use the vacuum. Is it the only one for your house or will it just be used for simple light duty surface dirt.  
 
If you're considering it for your main vacuum, I think you'll be disappointed over the long haul. The machine is simply not capable of producing enough strong suction and air flow, along with strong agitation to deep clean most carpets. It will work fine on low pile carpets like in hotels but not anything thicker than that.
 
Why not check out the SEBO X-1, a much much better machine that will last many years longer than the Oreck. <a href="http://www.ristenbatt.com">http://www.ristenbatt.com</a>

Their are a few good reasons to get the Sebo over the S175. The difference in cost is only $80.00. The sebo X-1 has a cogged (grooved) belt that lasts the life of the machine. The Miele has a flat stretch type belt that needs replacement at least once a year. The CFM (air flow) of the Sebo is 89 and the Miele is 69 CFM. This is one of the most important ratings of a vacuum. The higher the better. The Sebo has so many more inovative features I could go on and on. The HEPA filter in the Sebo is much lower in cost than the Miele, along with the dust bags. And the Sebo dust bags "LEAK NO DUST" as the Miele does leak some dust. The Sebo will lay flat on the carpet to get under tight places like under a bed. The Miele is not as low profile.  
 
The bottom line is you will recoup the difference in cost in a very short time because the "cost of ownership" will be less with the SEBO. I would wait and save up the extra $80.00, I think anyone in the market for a quality vacuum would agree. The Sebo X-1 is $449.00 and the Miele S175 is $369.99. You can see them at <a href="http://www.ristenbatt.com">http://www.ristenbatt.com</a> and check out the details on these machines.