I've never owned either of these types of vacuums so I can't compare it to how well they're supposed to work. I also only have hardwood floors and no carpet and only use it to vacuum when I'm too busy mopping the floors. So far it seems to be ok. I didn't have to use it on very dirty floors, but it seems to pick up cat hair quite well (one of my main reasons I need extra help with these vacuums). My apartment is pretty small so I don't really have to worry about a lot of wiggle room so that probably helps. I work from home and it's just nice to have something to romp around while I work on my busiest days. It has a remote control which helps a little too. The noise doesn't bother me. I haven't tried the wipe function.
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