It's not great at grinding nuts entirely, but a little crunch doesn't bother me. Also, if you add too much ice, it won't crush all of it completely! This is a great little blender for simple use, but not for large quantities and heavy duty smoothing. Hope this helps.
I use between 6-8 typical 'moon-shaped' ice maker ice cubes and it does fine. Occasionally, I'll find a pebble size chunk that gets caught under the blades that doesn't get crushed. It's not something that really bothers me.
My blender has handled all the frozen fruit I have ever thrown into it, plus large ice cube tray ice cubes without a problem. I have only had my blender since febuary 2013 so I'm not sure how long it lasts but I've not had a problem with mine yet and I use it every morning. :) Hope that helps.
I've only used the Magic Bullet a couple times. I prefer the HB - the pulsing button, rather than pressing the jar to operate. It's simple. The Magic Bullet operation to me is more complicated than necessary. The price is better for the HB, but you don't get all the extras that I've seen with the Magic Bullet. I don't need more than the one cup, but it's something to consider.
We use this to make fruit smoothies everyday. The regular oranges, banana and strawberries are all going to be very fine; only the grape-fruit will leave some bigger pieces. But if you take time to remove the hard part from the grape-fruit, everything will be good. You can do a little longer blending, should take care of it. We enjoy the fruit smoothies from this little unit everyday, very convenient.