I know everyone on this board hates Pergo, and it does have its faults - but here's my experience with it:
*It was relatively cheap (As cheap as the vinyl floor I put in 5 years ago) *It was easy to install (easier than vinyl) *It has held up way better than vinyl (which was trashed after 1 year in heavy-traffic areas) *If I do choose to tear it out someday, it's very easy to remove.
It depends on how big your floor space is. I agree that it's not as good as real wood or tile (I chose a marble/granite pattern, which I think looks better than fake wood) - but how much money do you have/want to spend on a floor?
It is harder than vinyl - so if you are prone to dropping glasses, they'll probably break.