I say go for it. Usually if an electronic device doesn't fail in the first year or two then chances are there are no construction flaws in the circuit board that are going to show up down the road because they would have already. Like say a bad solder connection, or a defective resistor or something that will fail in the first year or two. So long as you treat the thing right, meaning not getting it wet or leaving it in a hot car, the risk of an electronics failure is pretty much gone by now is the way I look at it.
Yes, I agree...if you can swing an EII then get one of those. Not so much for reliability reasons, but just because there are a few perks to that machine versus the XS. On the other hand, I understand that there are many XS users who swear it's their favorite Explorer and have good reasons for that. There are many who say the EII has the best "flutey" hit on silver at extreme depth of any of the FBS machines. However, others have differing opinions on just which Explorer is their favorite. The SE of course is a great option and there are great used prices on it as well these days. Just the better pinpointing function of that machine alone makes it worth considering. I'd recommend putting a Pro Coil or a 12x10 on whichever Explorer you get. I was never a big fan of the 10" coils on my Explorer IIs. However, I've heard so many good reports of what a 12x10 or Pro Coil has done for any old Explorer that had a 10" coil on it, that I'm looking to once again add another EII to my line up and will use it on days when I'm the mood to have a computer screen to look at and play with. Some days I just miss my Explorers for that, as well as a few other things about them. Depending on the mood I'm in for that day it'll determine which one of my Minelabs I grab for that day's hunt.
Good luck deciding which model you can/should get. If you shop around you can find some really good prices on all the Explorer models used.