Well, the old MIA stuff
is bullet-proof; I have an old Backstage Plus from the mid-80's which is incredibly solid. If you're going to be hauling the amp from show to show, that's a consideration. But I think the latest version of TT really is warmer, fuller, and more satisfying. The new Bandits and Envoys are probably not quite as roadworthy as the old ones, but they've definitely improved the tone. Of course, it isn't identical to that of a full tube amp, but as Mr Peavey says, it's 95%, and that was an "A" when I went to school. And for me, the digital reverb is nice because there's no pan or wires to pick up electronic noise in my condo.
Oh, and I've had two USA-made Tech 21 Trademarks (with Accutronics reverb). Both had the reverbs fail. And those are well-made amps! You just never know, I guess...
The Peaveys have a 3 year warranty, which you can extend to 5 years by filling out the questionnaire that comes with the manual. So, although I'm no fan of Maoism, I'm not terribly worried about the made-in-China amps' longevity.
The video included with this review really gives a good idea of what the new TT Bandit sounds like...
http://www.guitarworld.com/article/peavey_bandit_112