Let me start off by saying I come from a family that loves their Keurig machines. I've used quite a few different models at my mom's, grandparents, and friends' homes, and can offer a comparison of the models I've used to this one I purchased for my wife for her birthday. For those of you who may see the K45 model on other sites and are wondering about the difference, there is none at all in the actual design of the machine; it just includes a filter starter kit offered at Walmart for $17 with two refill packs.
First off, my basic first impressions of this particular model, the K40. It's extremely simple, with no LED display, no temp control, and three brew options (6, 8, 10 oz, approx). Unlike more expensive models, the water reservoir is not illuminated. The drip tray is removable, allowing for taller travel mugs. Everything is done in black plastic with only a silver band as the handle for opening the K-Cup holder. The power saver feature has only one setting; on or off, with a two hour window. The documentation provided suggests that it will take around four minutes to heat the water from the off setting, though in my experience it is ready in two. If you choose to disable the power saver setting, it is always ready providing you have the minimum amount of water in the reservoir. Brew time is stated to be less than a minute - very accurate. Assume 25 seconds for a 6 oz brew, 35 for an 8 oz, and 45 for a 10 oz. The capacity of the reservoir is 48 oz, meaning you will get between 4-8 brews per fill depending on cup size. Note that using K-Cups versus a reusable filter takes less time. (As a side note, I recommend the Ekobrew reusable brown filter over the official Keurig model because you do not need to switch out an additional part in the K-Cup brewer, and it is also lower-priced and dishwasher safe - Walmart offers the Ekobrew at $10 versus $17 for the official model).
Now for the comparisons, starting with the K10 - the personal brewer sold for about $10 less than the K40. A family member owns one, and I have had the pleasure of using it as well. The K10 comes in several colors, making it attractive to those looking to match a kitchen layout or send a gift to a college student's dorm. Unfortunately, it really is a single-cup brewer; if you have more than one person brewing a cup at the same time, be prepared to wait about 4 minutes between cups, as the reservoir only holds enough for a single brew. It is very compact compared to the K40 though, and great for small spaces. For a single person or college student, the K10 may be the way to go, but I would suggest spending the extra $10 for the additional reservoir space if you're a couple or family, it will save you time on mornings when you're running late. The K10 and K40 offer the same cup sizes, and neither offers temp control (though in my opinion, they both come out perfectly; just below boiling temp, ready to drink. Do NOT use chilled water in either of these machines or you will end up with weaker coffee).
My parents own a K70 Keurig Platinum that offers a few extras over the K40. Most importantly, it allows you to adjust the temp of the water when brewing a K-Cup. If you prefer your coffee boiling temperature or want a slightly more mild brew, it's easy to set it to do so. (Note that with the K40, if you prefer a lighter brew, simply use cold filtered water and it will turn out the same; anything out of your fridge dispenser/Brita/Pur filter would work perfectly. I do NOT recommend adding warm or hot water to the K40 tank to increase brew temp, however). A trivial detail is that it also has a programmable clock on the LED screen, though most kitchens already have an abundance of time-telling devices between their microwaves and stovetops. One major downside for me is the K70 has an illuminated water reservoir. Our kitchen in our apartment opens up to the living area, so having a blue light on all the time would have been very distracting. It can act as a decent night-light for wandering the kitchen at night though, just be aware of that difference and whether or not you want the light. One other thing I do not like about the K70 is that the drip tray is a chrome/silver color as opposed to the matte black of the K40; it looks somewhat cheap in my personal opinion, though the K70 may match well with a kitchen done in stainless steel appliances.
In all, I consider this model to be the best for the price. At around $10 more than the base, single brewer model, and $50 less than the Platinum model, you're getting the best bargain for a Keurig with the full benefits of owning a single brewer. Purchase a Ekobrew alongside it and you will never regret giving up that 6, 8, or 12 cup pot that used to burn your coffee every morning after just half an hour. If you need temp control and it is worth the fifty dollars, then by all means upgrade; the K70 is an excellent machine, it just doesn't offer additional performance equal to the price in my opinion. If you need a night light for the kitchen, try your local Dollar Tree instead of paying for the upgrade.
One final note; I would be cautious buying Keurig 'approved' models such as Mr. Coffee, while I have not used one, the price does not seem far off of the official models and I have heard nothing but bad stories from those I know who have owned one.
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