I purchased my VJ-1204 as a repo last August. In the past year I've been amazed at the print quality and ease of use/maintenance for this machine. I've run banners, wrap material, all sorts of other adhesive vinyl as well as poster paper and window perf. It handles them all beautifully. It will print a full 48" in uni-directional mode - I've done it. However, you'll need 50 inch material to take advantage of that.
One thing I mention as a "negative" is the waste tray instead of a waste bottle. I am in the process of designing my own waste bottle system to take the waste tray out of the equation. Another negative or annoyance, is access to the head and maintenance station is a little cramped. When doing a thorough cleaning it's best to remove the entire side cover so you can really get in there and clean well. However, this is the same as the 1304.
In the end, take care of your machine and it will take care of you. I've shut mine down for up to 3-4 days and come in, done a quick wash and back to printing. *BTW - I also turn mine off every night.
Feel free to PM me with any questions, I'll try to answer them the best I can.