I've bought several of these over the years and have been very happy with them. The binding does not crack with age and frequent opening and closing. The oldest one I have consistently used is almost 12 years old.
This is a well built binder...for the price. The rings work well and are heavy-duty.I am not sure about the longevity of the exterior of this piece though. The flexible pieces of the binder appear a little flimsy if you plan on using this every day.