The SP-2 is a very good basic sustain pedal with switchable polarity, which has come in handy as some VST's require a different setting to work properly.
I've been using the SP-2 with the Oxygen49 midi controller (also by M-Audio) for over a year now and I got to say it's a very rugged pedal, as I'm pretty heavy footed in using it (and I weigh over 110kg).
It's a sustain pedal, so it's quite a one trick pony, but it also works as a Slow-Fast -switch when used with a VST like NI Vintage Organs to switch between the Leslie speaker emulation speed setting.
Overall, I've been using it on a daily basis and there's not a single sign of use in it, so I'd say it's going to last a long time. It's also one of the easiest pedals to use, just plug it in and you're set (my experience in a Windows 10 environment).