My female pit mix loves this toy. She carries it around, shakes it, chews it, and just adores it. However, when I got it I knew right away that I could not leave her alone with it. If she ever sits down to go to town on it, it probably won't last more than a couple of minutes. Due to this, I only let her play with it for 5-10 minutes at a time and only supervised. If I see her settling down for a good chew, I take it away (or throw it to get her moving again). That said - this is a great, stimulating toy. She loves to drag it by the 'legs', shake it around, make it squeak - everything! The different chew 'zones' - the tennis ball top versus the squeaky middle - keep her entertained. The cloth is quite durable and unless she *really* wants to get through it, I think it will hold up well.
This is a great toy - but be aware of your dog's tendencies and take them into account. If my girl ever does destroy it, I'll definitely get another.
Edit 1/03/2013: I have been using the "Wubba" type of toy for 4 years now, and had to come back and upgrade my rating from 4 to 5 stars. Though it is not a chew toy, it stands up remarkably well to my very strong dog. Very few toys have lasted more than a minute as she *loves* to tear anything soft to pieces. Amazingly she will use this specific toy for good and not just destruction :) The main thing that gets these in the end is the tennis ball top. She is tennis ball crazy and *must* get the tennis ball out eventually. That being said, whenever she ruins her current one, we immediately go out and buy another. That kind of dedication must mean that it needs a 5 star rating!
What has been working even better recently is the "Wubba Tugga" which has a squeaker but no tennis ball. Because she is not quite so driven to get the large squeaker out, it last much much longer. If your dog has one of these and can't leave the tennis ball inside alone, try the Tugga.