Todd and DEK,
The nice thing about this place is that lots of people with experience in certain kinds of gear may chime in with input based on personal hands-on experience gleaned over the years.
As for instilling a fear in your purchase that it will break down or has to break down, I don't agree with that kind of negative fatalistic approach and I believe it holds no constructive benefit to those just buying or thinking about buying the gear. This is supposed to be a fun hobby, not one filled with dread or regret.
Don't sell it, burn it or throw it out. It's a nice piece. And for what it's worth, I sold this in the 80's in a reputable well established hi-fi shop in my city and my own personal experience was it sounded great and ran circles around most of the other gear that sat on the shelves next to it. I can also honestly say from my own personal experience that this Lux was never trouble prone when new, while many other well known brands kept comming back for service. Perhaps they developed trouble as they aged, much later, but I don't have any first hand experience with that.
Again, IMHO.
Enjoy your Luxman gear.