Putin reined in Russia's restive regions and clipped the wings of tycoons known as oligarchs who gained political power and huge fortunes after the Soviet Union collapsed in 1991.
Marina Kuzmina, 46, spoke for many when she defended Putin at a rally last week attended by tens of thousands.
"I came here for stability, for there not to be any revolutions in the future. Personally, my quality of life has really improved," she said.
NO CHANGE
But when Putin addressed the rally, evoking the defeat of Napoleon Bonaparte in 1812 in an appeal to national pride, some of those present said it sounded like he had said it all before and that he, and his vision of Russia, were stuck in the past.
When he took over, Putin vowed to protect freedoms of speech, conscience and the media as "fundamental elements of a civilized society".
Instead, he cracked down on the media and smothered criticism. Murders of investigative journalists have rarely been solved and political opponents were long silenced.
Mikhail Khodorkovsky, an oil tycoon with political ambitions, was arrested in 2003 and then jailed on fraud and tax evasion charges.
The organizers of the anti-Putin rallies attended by tens of thousands of people have lost faith in him ever changing.
"This means the same conflict between him and civil society will continue," said Vladimir Ryzhkov, an opposition leader.
Protests are planned in Moscow the day after the election.
"How much can we take?" asked Sergei Shikov, a 40-year-old driving instructor. "We have so much corruption among state employees, police and even plumbers. Putin and his circle sit at the top of it all ... He and his friends are getting richer."
WARNINGS ON UNREST
Putin has allowed the peaceful protests so far, but has indicated that his patience may be running out. He warned this week that opposition figures may try to stoke unrest, a refrain taken up by supporters to underline that the protesters are a minority of Russia's 143 million population.
"I don't think there are really many people who want to push Russia into catastrophic chaos," said Oscar-winning film director Nikita Mikhalkov.
Putin could also face confrontation with the West after whipping up anti-American hysteria during his election campaign, accusing foreign governments of financing the protests.
Moscow has already locked horns with the West over the bloodshed in Syria and with Washington over U.S. plans to site a missile-defense shield in eastern Europe.
Putin may ease this rhetoric once he is back in the Kremlin, but diplomats say he is unlikely to quickly change policies that he has shaped even as prime minister.
Putin hopes his election will end the uncertainty that has put off foreign investors and led to $84 billion in capital flowing out of the country last year.
But investors are seeking a commitment to reforms such as cutting corruption, privatization, restructuring large state companies and a reduction in dependence on energy exports.
Spending promises by Putin during the campaign could return to haunt him as tax rises may be needed to fill state coffers.
LOSING HIS GRIP?
Until September, Putin's grip on Russia seemed firm.
He had risen quickly after working in the city authorities of his home town, St Petersburg, on his return from service with the KGB in then East Germany after the Berlin Wall fell in 1990.
"He had incredible charm which affected men and women, especially women. He could talk a woman into anything," said Lyudmila Fomicheva, press secretary to Putin's former boss, St Petersburg Mayor Anatoly Sobchak.
Putin held a senior Kremlin post from 1996 before being appointed head of the FSB security service and then premier.
