I have the FoodSaver which I've used for years for just about everything in the kitchen, garage, first-aid kit, car, travel, etc., and I've been using the Reynolds Handi-Vac for about a month. Wal-mart had them first it seems, but no extra bags, so I was reusing the 3 bags that came with the starter kit. I love them both and each has their purpose.
The Handi-Vac is excellent for leftovers or items you tend to get access to on a regular basis -- cheese, luncheon meat, onions, croutons, etc -- and keeps them fresher longer. The ziploc feature is what makes it so special, to open, close and reseal in a matter of seconds. Considering its a manual seal I am impressed that the seal holds. I've only had one instance where it "unsealed" itself. I resealed it, making sure the ziplock was positive, and it stayed sealed after that. I am cautious about sharp items, especially once an item is frozen and gets bumped in the freezer.
Super great item. For $10 I highly recommend it.