I have had vinyl flooring put down in our lounge and dining room, it looks like real wood.
It was time that made me choose it as opposed to laying laminate. these are the things I have learnt since ownership of just over a month.....
1) It is better than carpet as spills and dust can be easily picked up.
2) It didnt take long to lay
3) It looks very nice, It looks like oak
4) very easy to clean
5) dropping something doesnt echo around the house for hours!
on the negative sides, these are the things I have noticed
1) I have taken the wheels off my sofa, it can rip if there is sufficient sharp edges or even sofa wheels!
2) it feels quite hard under foot as opposed to lamintes "bouncy" type of effect
3) walking around it is fine, I do have to limit the kids toys (bikes/rollerblades/toys that dig in) are all out.
Dont get me wrong its a nice option and vinyl has come a long way since the 70's, I do think I will change it in a few years, probably for laminate.