I don't know if quality of Vespucci has gone down, but I bought a Vespucci bridle/reins last year that ended up having to be returned to Vespucci. The thing bled like no other. Customer service through Vespucci was horrible-- my tack shop worked and worked with them to no avail. Finally my tack store refunded my money. Would not buy another Vespucci product after all that.
Don't have any problem with my Vespucci bridle and had really good customer service from my tack store when I needed to add a 'figure eight' to it.
I will add that the new 'figure eight' doesn't seem to be at the same quality level my bridle was when I purchased it a year ago...will see if this part last...
On the other hand, I had trouble with my nice pair of Arc De Triomphe calfskin covered reins...leather ripped off at buckle, unstitched itself for no apparent reason at some other places after only 6 months of good cares and use, and lots of trouble with their customer services... Been refunded!