Best vacuum for pet hair...

Hoping not to open another can of worms with a pet related posting, but here goes nothing...

My vacuum bit the dust... or quit biting it as the case may be. I was wondering if anyone has pets/lots of pet hair and a vacuum they just couldn't live without. I'm willing to spend a high/er price for a product that will make my life simpler and my house cleaner.

Let the debate... errrr, suggestions begin.