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I have that and it's freaking awesome. I've had the lifestraw and sawyer... they are a joke compared to this.
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For what purpose? Saying the Lifestraw or Sawyer are a joke is disingenuous and very relative to the situation. Now, I do agree that use really determines the type of filter/purifier and location is just as important. The MSR is a great product, but is a "joke" for backpacking compared to the Sawyer when considering price. 99% of your recreational needs, an inexpensive hollow-fiber filter will work perfectly fine. I'm being sarcastic as the MSR is actually pretty lightweight for a purifier; it may be a little more bulky, but isn't much of a weight penalty. Cost is the biggest detractor, but the value is double-duty against viruses, which aren't common in North America, but could quickly change with a major disaster or SHTF situation that compromises surface water sources.
For SHTF, there are two major concerns: viruses and heavy metals. If you're anywhere downstream of an industrial area or major farming operations, the chances of your surface water sources getting contaminated by chemicals and heavy metals is significant. There are no portable filters that will handle that and even with activated carbon, it's a crap shoot. Viruses on the other hand are a much more common threat in third-world countries or just after a major disaster as sewage backs up and most surface water sources get exposed and serve as a virus breeding ground. This is where the MSR Guardian shines and most hollow fiber filters (well, most all filters) fall short. A purifier works against the more common (and larger) water-borne threat vectors, but the size of viruses is their downfall. Again, viruses are of minimal concern now, but likely a much larger threat in highly populated areas without good plumbing or sewage management.
Unless you have your own well or spring-fed creeks nearby, investing in a purifier like the Guardian is a smart move. If you're major threat is likely heavy metals and chemicals, your cheapest option it to store potable water, design a water distiller (however not all chemicals or heavy metals may not be removed), or bugout to a much better location with better water sources.
The only issue I've seen with the MSR Guardian is the O-ring seal failure. My assumption is this is an easy fix, but all hollow-fiber type filters require a fair amount of pressure to force water through, so having extra O-rings and even a small tube of silicone lubricant is good advice. What thing I do like about the MSR is the drop and freeze testing. MSR is a solid company that develops (and stands behind) great products.
ROCK6