if you change the filter and bag frequent enough you shouldn't have a vacuum stop working because of pet hair however it does strain the parts and sometimes make its lifespan shorter, however what I would recomend and what my aunt uses (she has at minimum 16 dogs in her house at a time, she breeds them) she has a dyson and she SWEARS by it, she use to have to buy a new vac almost every 2 or so months which is alot!!
Oh yes I go through at least a vacuum cleaner a year. Feed Nutro ( its the only dog food in America that guarantees less shedding, and it does). Proper grooming as well is very important
When I have six shelties shedding, I sweep my carpets for hair with a regular broom before running the vacuum cleaner. Never had one croak of old age. I have had the same hoover for 8 years now. I gave my last old Hoover away to buy this newer one, but it was going great guns when I gave it away too. I guess it's all in the brand and maintenance.
Dysons work very well, but you do have to clean all the hair of the bristles after your done, or else if you don't then after awhile you'll end up having to cut the hair of the bristles (not fun). My parents also have a Kirby Heritage that they use to clean the hardwood floors. We have a pomeranian who sheds constantly, so we're always vacuuming little wads of hair off the floor. I don't think that dog hair ruins a vacuum cleaner, just make sure you clean out the hair stuff so that it doesn't get clogged, or lose any suction or anything.
It doesn't ruin your vacuum,except for maybe over use. Make sure, after every time you use it that hair balls aren't stuck in the wand or in the brushes. If your vacuum is the bagless variety, clean out the canister after each use.. The Dyson brand vacuum is supposed to be one of the best but really expensive. You basically have to vacuum everyday. I've seen these like magnetic brooms demonstrated at dog shows that seem to really pick up the hair- sorry I don't know what they are officially called or where you get them. I hope someone has a better answer because with 3 dogs and a cat there's a lot of hair in my house...