UPDATE: My new Shopvac Industrial ShopSweep arrived from Amazon today, and it has been given it's first workshop test. Overall I would rate it as "meets expectations", but not "exceeds expectations".
What I like about it is that it does not require bags, and it is very quick to use as opposed to a canister vac. It also has very good suction.
My dislikes are the noise level (fairly loud, even though this was advertised as being "quiet", the stand is somewhat cumbersome to use, the handle does not pivot (makes it critical that the angle be kept consistent so that the pickup stays close to the floor), and the pickup is not as wide as I'd like.
Overall, it's ok and a good value. Much, much better than a broom and it works more quickly than a canister vac.