I'm going to necro my own thread, because I realized I never gave my promised report.
Overall I've been pleased with the Silhouette Cameo. The hardware has been rock solid for me, and phone support was good when I needed it once (because I'm blind and didn't see the giant button right in front of me labelled with exactly what I wanted to do). I am glad I bought it, and would recommend it to others who need to occasionally cut vinyl.
The weak point of the Cameo is the software. Its font handling isn't quite as good as I'd like it to be, but it gets the job done. If this ever became an issue I could upgrade the software and import files from a better piece of software.
Lessons learned:
1) There is a single drive axle on the operator side of the cutting head. When you're cutting roll vinyl, leave about 3" at the start of the roll before you start cutting. If you don't the vinyl will wrinkle as it cuts and straight lines won't be straight.
2) Silhouette makes vinyl, which is okay for stencils and such, but it's expensive and not the best. The big advantage of the Silhouette brand vinyl is that Joann Fabrics has it in stock and they're right by my shop.
3) The best vinyl I've found (that is available in 12" wide rolls) is Oracal 651. It's the highest end of Oracal's calendared vinyl. They make a better, cast vinyl called Oracal 951, but I haven't found it in 12" width.
Silhouette has since come out with a new version, the Cameo 3, but it looks like the main upgrade is carrying two knives, which wouldn't help me at all.