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Not a good long-term everyday drill
I'm a professional remodeler and bought this drill in July of '07 to replace a 14.4v Porter Cable with two dead batteries (it was going to cost $120 just to replace the batteries, so I was able to sell the drill w/o batteries on craigslist and upgraded to this 18v).

First thing I noticed was that this drill is Heavy. Compared to the old PC 14v, it didn't seem to offer much more performance for the added weight. At first, I figured the task light on the belt clip was just a gimmick, but it proved well thought out and useable. However, five months after owning this drill and using it on a day to day basis, the gears started grinding and the chuck wouldn't spin. It's not like I was trying to bore a tunnel through bedrock with a 5" forstner bit, either. Hitachi has a great 5 yr. warranty program, so I took it in to be repaired. The parts were on backorder - turned out to need a armature (and something else...?) and it was a month before the drill was repaired. Using the drill the next day, the same part broke. I called Hitachi and they sent me a whole new replacement drill.

Now, just six months after using that drill, the same thing happened. I called Hitachi and demanded a refund. They said they wouldn't do that, but that they would send me a "better drill", the Lithium Ion version ("It's a much better drill" they assured me). While the L-i version is slightly lighter weight - basically due to the lighter batteries - it's basically the same drill, and honestly, I'm not expecting much.

Other considerations: the torque setting ring quit going past number 22, into Drill mode (or Hammerdrill mode!) - and well, that's not good!

the crazy green rubber graphics began peeling off the old drill - an annoyance at first, then became an issue of comfort

the bit holder above the battery stores the bits so tight, I began pushing in bits only halfway just so I could get them back out

there's a little cloth loop near the back of the battery - presumably to use as a way to dangle the drill from your wrist - which just ended up getting in the way every time I went to set the drill down, making me give the drill a little flick every time to get the cloth out of the way.

The price has come down on this drill since I bought it, but it's color is a constant reminder of what I wasted on it - lots of green.

Long term review
I had Dewalt drills for 10 years. They were always good with the exception of the batteries. I switched to the Hitachi drill hoping for better batteries, I was disappointed. I work construction and use the drill everyday. I will admit the drill gets alot of hard use. The first thing I noticed about the Hitachi drill is that it has quite a bit less torque in the high setting than the Dewalt. My drill is now 1 year old and no longer works. For the last 10 months the drill would get hot real fast. After drilling a 5/8" hole,with a new bit, through 10" of wood, the drill now only works in reverse. This time I will spend my money on a Dewalt. This drill would probably work for most people but if you do construction for a living then you should pass on this drill. The hammerdrill option worked well. The light was too dim to be useful.

Hitachi DV18DMR 18 volt Hammer Drill
Hitachi DV18DMR 18 volt Hammer Drill

Very nice unit all around. It is heavier than similar units but that allows for precise metal drilling. All around great first rate unit!!!

Not For Every Job - it's HEAVY
While still new this drill appears to be very well made. With a five year warranty, it's real hard to go wrong. The drill has lots of power and run time with the Nickel-Metal Hydride (Ni-MH) batteries. The chuck ratchets tight like my DeWalt DC988. The bright adjustable LED accessory light on the handle, which can be switched to the other side, is not only a great idea, but someone should have thought of this a long time ago. The drill is well-balanced. The forward, lock and reverse select has postive detents. The color scheme is cool and the housing is actually designed to let sweat run away and not make the drill slippery. Nice thought, but I use gloves when the going gets tough.

Now to some faults: Since it is so new, even Hitachi didn't know where batteries for the light could be purchased. It comes with 2 X AAAA (yes 4 A's). It is also called an "N" battery. I bought two extra Duracell "Medical" batteries MN9100B2 for $3.83. Like any 18 volt hammer drill, it is heavy. Hold six pounds over your head and try to do some delicate work. I finished this job with my trusty DeWalt 9.6 volt drill. It has nowhere near the power, but I didn't need the power and couldn't hold the weight long enough.

This is an excellent drill and I have rated it tops for innovation, power, ergonomics, overall construction, warranty, motor and battery technology. As a potential buyer of this drill, you really need to know how you will use it. Do you really need a hammer drill? Not all jobs require this kind of power and the weight can be a drawback. While I am fortunate in being able to have several drills for different jobs, not everyone has these needs or is willing to spend that amount of money. If I could only have one drill, I would compromise and pick a 14.4 volt drill from DeWalt like the DC984KA hammer drill with a "mid" mount handle which weighs about a pound less. It has a 3 speed transmission, proven battery technology and a three year warranty.

Awesome
Is there such a thing as too much power? Nah!!!!!!!!!!!!!!
But this Hitachi has it. Will pull screws through any material I'm using. Very smooth and the light is nice idea. A bit heavy but any thing over 14V is heavy.