Last year we bought a Dyson DC14. It is by far the best vacuum cleaner we have ever owned- it does everything the ad says it does, it does not lose suction and it will pull an amazing amount of crud out of the carpet (we have two cats and two teenagers). The hose is long enough to clean the cobwebs out of the ceiling corners without moving the rest of the vac (I used to have to hold our old one up while my wife vacuumed the corners). Best of all, it does not emit that musty smell that most vacuums- bag or bagless- do. The Dyson isn't cheap- my wife and I still can't believe we paid more for a vacuum cleaner than a TV set- but we wouldn't use anything else.
-Carl