I've had this unit for only about 6 months. I bought it used off TopLoser so there was no warranty of course and the price wasn't bad.
I didn't really use the soldering iron that much, but I did want to use it recently, and came to find the display backlight was very dim and the unit did not heat the iron.
I left it running for about 10 minutes and it fired back up, and worked fine, although the display was very dim and the temperature seemed incorrect, for example it had to be set to about 400C to melt solder.
After leaving it to cool down, it again would not power up, so I decided to do some diagnosis.
The 5V regulator 78L05 (marked only with the refdes of "VOL") takes ~14VDC from the transformer and regulates an internal 5V rail for the logic and backlight. When the unit did not work this regulator had an output of 2.8V, clearly too low. When it worked, with a dim display and inaccurate temperature readings, the output of the regulator was 3.5V. By heating the regulator with a hot air gun (the same one the unit has) I was able to get the output voltage to rise to 4.5V, where the unit worked properly, aside from the backlight being a little dimmer.
The regulator has no heatsink. The backlight is a single or multi-parallel blue LED with a 22 ohm resistor, and a forward voltage of ~3.1V. So the backlight current is about 85mA. That alone would produce a power dissipation of approx 800mW in the small TO-92 package (far too much, at about 160degC/W for a TO-92, it makes it run about >120°C above ambient...), not including the other current from the microcontroller(s) (there look to be two, but it's possible one is just an LCD controller... they are both Holtek devices.)
I will probably replace both regulators on both boards, which are identical for the hot air and soldering iron, with TO-220 devices, which should be able to dissipate the power using the tab only.
Overall build quality: 5/10 - The soldering is surprisingly good for a cheap product. However, there are definitely some corners cut. In particular the pump is secured only by rubber spacers - which work great to reduce vibration and noise, until it falls off them! There needs to be some kind of retention mechanism. There appear to be no glaring safety violations. Component choices are mediocre, cheap caps and part numbers on ICs you'll never find.