I used to own that exact same planer. I also purchased it from Home Depot. It recieved outstanding reviews from Wood Magazine. Their opinion was that it leaves a finish as good as more expensive planers. After 3 months of use I returned mine and bought a Delta 22-580 from Amazon. Currently Amazon's selling them for $400 (free shipping) and if you buy before end of year you can get a $30 rebate from Delta. Here's why I made this decision.
The Ryobi has a lot of plastic on it, which suggested to me that they may have skimped in other materials as well. If you look at it closely you'll notice one of the first things suceptible to breakage is the sizing handle. It's built to fold over but there doesn't appear any reason/need for this design other than the extra 1/2 inch of height it adds to the machine. It's hinged on a small metal dowl and if you push this handle down below the dowl (1/16th in from top of planer) while adjusting the blade height you'll likely break it. This is how I broke mine. You can get a replacement handle while under warranty or order a new one ($7 I think I recall) from Ryobi's site, but it's a pain and something I can see happening more than once. The sides and base are plastic as well, which means you're going to have to be very careful with this machine if you ever decide to move it or when moving things around it so as not to make a permanent scratch/gouge.
Another issue was that the metal bed under the cutter heads seemed thin and suceptible to bending over time. If they bend then you're going to have to make a replacement bed (out of plywood or MDF) later to keep a flat surface for your wood to pass over.
The last issue, and not a huge one, was the lack of infeed/outfeed tables. You can make your own (I did) out of MDF, Plywood or some combintation, but you have to get them set just right or your boards will go in at the wrong angle or stop on the way out (hitting the outfeed board), pushing the planer back at you. If you don't have the planer bolted down and it's setting on a stand this can nearly give you a heart attack (as it did me). The tables are easy enough to make but, again, you have to be precise in terms of heights.
I want to say I picked mine up for $250. HD never seems to have sales on their tools, but you can order coupons on-line at their 'I'm moving, send me a 10% coupon" site. It takes a few weeks to get but it's worth it if you go that route. Now HD online also sells the Delta 22-580 online. You can order on the website (and use a gift card) or at the store.
That link:
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comparison, I like the Ryobi depth guage better and the Ryobi did put a very smooth surface on the pine I was using it for but I don't think it would last long on any hardwoods. If you were to set the two (Delta vs Ryobi) side by side you'd see that the Delta is superior in terms of materials. The Delta's handles, cutter lock, and all around are thicker/heavier, better than the Ryobi. Price wise you're looking at a $150 difference but I think you're getting a planer that would last a lifetime from a solid company that has unbeatable customer service. I used to laugh at the idea of good customer service as a product feature, but when things break I'd rather go to a place that is a. still around, b. still makes parts for, c. doesn't treat you like a beggar, d. knows what you're talking about, e. made a solid product to start with . . . etc. Aside from my liking the Ryobi depth gauge better, the only other thing I don't like about the Delta is the outfeed chute. They kind of gouge you ($30). Sometimes you can get specials on them if you look around.
Now I've come to this group long enough to know that every woodworker has their brand preference and I also know that there really are a lot of planers out there that provide outstanding value (Dewalt, Rigid, General, Powermatic, Jet). I'm not going to argue which is the best, but what I will argue is that if you spend a marginal amount more than what you'd pay for the Ryobi you'll get much better value in the long term. Also, the resale value is better on a good name tool. If the marginal difference is out of your budget then I'd probably hold off on getting a planer until I could get the difference. I do think it's better to wait and get quality than to jump into a headache.
Just my opinion from my personal experience. Hope this helps!
-Chris