I have an Ikon, I have only had one and I have not had any issues with it. It has traveled with me almost everyday to work and back (in a case), on assignment, and to london and back again. I have shot probably about 30 or so rolls through it with no issues. I do however baby my equipment, clean it, handle it nicely, keep it protected, etc.
The view finder is excellent, it feels good in my hand, and its a decent deal in my opinion for what you pay.
This is just my opinion mind you, I have never owned a Leica (although my first rangefinder was a Minolta CLE) but I think they are outrageously priced. If I were rich then I would love to own one, they are absolutely beautiful pieces of equipment, although I think they have their quirks as well (such as the film loading system, to me it seems like one hell of a pain in the ass).
So if someone said, hey Peter, here's a Zeiss Ikon or a M7, which would you like? I'd take the M7, but otherwise, I have nothing to complain about.
Were all snobs when it comes to the gear we own, I know I can barely touch a Canon w/o feeling dirty, it was just the way I was raised, even though I know perfectly well that a Canon is just as good, if not better in some respects than my Nikon, although, the same can be said about it.
Is the Ikon a Pinto? No, not in my humble opinion. 😉
It's just a stigma, you could have problems with either, you won't know until you try for yourself.
-peter