Michael Hyatt's site of his experiences with Vibram FiveFingers. I thought this would be a good opportunity to update my own review.
I have had my FiveFingers for almost 2 years now. Initially I was using them as my exclusive running/training shoe. I bought them in January and ran in them exclusively until April when I experience some foot problems. This actually turned out to be a fracture caused by repetitive stressing of my foot bones. This was a prime example of training in them too hard to quickly. While I thought I was easing my way slowly enough into longer distances, the break tells a different story.
Once I recovered from my break (8 weeks later) I took a hiatus from my Vibrams. I was a little gun shy. Eventually I pulled them on again a couple of months later and remembered why I loved running in them. However, I have kept them as a secondary part of my training. I run in them on a semi-regular basis as a supplement to my training rather than a primary trainer.
There is no doubt that barefoot running is a fabulous way to work muscles that you forgot you had and it has help modify my stride so that I no longer have knee issues. However, I am not convinced that it is the best option for long distance or technical running. I do multi-day adventure racing, I need a rock solid shoe that I can forget about.
I have since settled on Solomon XT Wings 2 as my primary shoe. They are a stellar trail running shoe and are almost bomb proof for long hard races. I will continue to use my Vibrams but probably not frequently.