I've had two of these panels, an original Saitek and now one of the rebranded Logitech panels. They work great right out of the box and can be easily configured using 3rd party programming tools (SPAD, SPAD.NeXt) to perform various functions in your flight simulator. While I didn't experience a complete device failure, individual switches on my original Saitek panel became unresponsive within a few months. When he was a few years old, four of the 13 cups were broken. It's not an assembly or board problem, the switches themselves simply fail internally - there is no continuity in either position. After Switch 5 failed, I replaced the panel with a new Logitech panel. Less than a year later the landing light switch on the NEW panel failed completely, the fuel pump switch began to fail. Luckily I still have the old panel lying around and can pull the working switches out of it and solder them into the new panel. However, this should not be necessary after less than a thousand cycles on the switches. I'm not sure if Saitek/Logitech just got a bad batch of Baokezhen or if this particular Switch model is just the cheapest, but for a $100 device called "Switch Panel" I would expect that the switches are a bit more reliable.
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