Huffy's do use low quality parts, and I wouldn't be surprised if the current ones were using even lower quality parts than older models, but I still hesitate in using the term "junk" to describe them. Primarily because they've sold millions of bikes over the years and an awful lot of people were happy with them.
The OP got 12 years out of his and is still riding it. He isn't complaining about it. Go visit one of those used bike dealers that runs out of their garage/backyard. They sometimes have several 20-30 year old Huffy's, still in working condition.
Now if I were buying a 3-spd today, and was going to ride it a lot, I would go out and check out some of the Treks, Raleighs, Electras, Felts, Marins, and even the Schwinns (the ones sold in bike shops, not the psuedo Schwinns sold at Wal-Mart). There are some fun options out there. When I was in Florida this past winter and checked out some bike shops, there were far more cruisers on the floor than road bikes.
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"Too often I would hear men boast of the miles covered that day, rarely of what they had seen." Louis L'Amour
There are two types of road bikers: bikers who are faster than me, and me. Bruce Cameron - Denver Post