We've had the same machine for 4+ years. If it's in good condition and all nozzles are printing, I'd go for it. You can run everything from banners to wraps to magnets on it.
We've occasionally had an issue with banding. Roland was never able to help us nail it down because it was so intermittent. But it seemed to be related to very low humidity.
Occasionally a weird transparency issue will show up. Either when printing a file that we've designed in Illustrator, or when printing a customer-supplied file. Certain layers will just disappear or the color of a layer underneath will show through. We recently upgraded to Versaworks Dual which was supposed to solve this problem, and I don't think we've seen it since.
Both of these problems were very rare - frustrating when they happened, but something that affected less than 1% of the jobs that we ran. I wouldn't mind going latex eventually, but I'm very happy with this machine.
We switched to Bordeaux inks after our warranty ran out. The only difference that we've noticed is a slightly stronger odor.
I'd recommend a takeup reel if you don't have one. We bought one from Supply55, but I'm not really happy with it. The drive wheels keep wearing out and it's not the most sturdy thing. I wish I had gone with the factory takeup reel instead.
