Sure its a new engine and frame, but...
Harley-Davidson learned a long time ago the old Henry Ford maxim that "pioneering don't pay"...
I'm not too concerned about buying a "first year" bike. The V-Rod was six years in development, and they spent plenty of time and money testing the engine, cooling system and transmission in the widest possible range of conditions to make sure that there were no lurking problems that could hit them with a raft of warranty expenses and (worse) bad publicity.
The brakes, electrical system, belt drive, suspension, controls, etc. are pretty standard motorcycle components. Harley either makes these bits themselves, or buys them from suppliers with plenty of experience. The only really "new" ground that this bike breaks is the hydroformed frame and the anodized aluminum fenders and airbox cover. I suppose it is possible that some manufacturing or engineering defect could have crept into the frame, but I really don't think that its very likely. I suspect that the anodized aluminum bits may cause some owners a few problems. Anodized aluminum isn't like steel or fibreglass. If it gets dented or scratched you can't just dab some bodyfiller in the hole and spray paint it.. in fact, I'm not sure what you do with dented anodized aluminum.
As for the long-term durability of the Revolution engine? IMHO I believe that this will turn out to be one of the most durable engines Harley has ever put out. The long term enemies of engine blocks and valve trains are friction, vibration, and heat. Harley has taken care of the overheating problem by building a watercooled bike. The V-Rod engine is beautifully balanced. Change your oil every 1000 miles or so, and pay attention to the other maintenance schedule items, and I think the V-Rod is an excellent contender to be a 100,000 mile plus motorcycle.
