Change Raycor Water Seperator?

[vesselgreenhead]

I bought a raycor water seperator last year. The employee at west marine assured me it would be the last water seperator I bought. As anyone knows that has purchased this filter, it is about 4 times the cost of the conventional water seperator. It allows for the water to be drained out of the bottom of the filter via a screw bolt. Does this filter ever get saturated and need to be replaced?? How long is it good for?? Please don't tell me I paid four times the cost for a filter that needs to be replaced as often as the others!!?? for a fourth of the cost.... suggestions, please