Have had it for 3+ years, and love it. I have about 150 dives in it. I divemaster and have used it in the pool as well as for travel so its had its share of chlorine and saltwater abuse and still works wonderfully.
My only complaint with it has been this. The Knighthawk, has all stainless D-rings, where the Ladyhawke has plastic D-rings on the bottom of the BC. IMO they fold under and are hard to use with gloves on, as are required in the Northern Il area I dive most frequently. Also, there aren't tons of pockets and/or D-rings, so if you carry alot of accessories, you have to get rather creative.
Those are issues I've looked at as challenges rather than major problems. My main focus has been whether the product holds up over time or not, and it definitely has. It is also extremely comfortable.
Good luck in your decision.
Julie
PS- I also have a DiveRite Transpac. I use that when my daughter dives with me. She wears my Ladyhawk and I wear the Transpac. She likes my Ladyhawk better so I let her use it. I am just so used to the Ladyhawk, that its my first choice as well.