I'm a new nf owner so I unfortunately can't vouch for real long term wear. I got it for Christmas and use it as a work bag. I tote an ipad, wallet, phone, make-up bag, water bottle, shoes, etc. in it every day. Here is a pic of the strap that I just took to show you what I mean.
I read through the threads alot before purchasing and most real cracking, peeling, handle breaking was considered rare/defective and fixed by LV so I took the chance because I loved the print so much on this bag. Hopefully some of the other nf owners can chime in on their straps over time and if they've had any problems.