We use a cheap 3D printer weekly to make little fixtures, brackets and mounts for robots. These we use for months or years. They are also incredibly great for prototyping: print the doohickey in crappy plastic, check it fits together right, then get it made for real. It's amazing how helpful it is to have a model in your hand for debugging before spending a fortune.
It is definitely not ready for my Nana to print out a new frame for her eyeglasses after she accidentally sits on them. But it will be one day.
We're primarily using a Printrbot Simple Metal at my local makerspace, and I usually expect a solid object the size of my fist, 20% infill, PLA, to run 3-4 hours.