I had one. Bought it from a friend, and between the two of us we put something like 100k miles on it. Very reliable.
The oil issue was resolved long ago in production, and all the early models were recalled and had the oiling fixed.
The main cam issue is because it's only 3/4 supported on its bearings, with that 1/4 section exposed. When you go to adjust the valves you pry these dirty multi-piece valve covers up and over, dropping crud onto the bearing surfaces of the cam. It gets carried over to the soft aluminum of the head, and embeds.
The secondary cam issue is the screaming the engine can do. Wrapped up it tends to fling the oil off the cam lobes, and runs them effectively dry. Used to see it all the time in the shop. Guys that flogged their Magnas (and Sabres, and Intercepters) would have wiped out cam lobe tips. Guys that didn't wrap them up high all the time didn't have this damage.
Electricals were dead nuts reliable.
Neat anti-dive front suspension.
Tiny fuel tank. No range.
Horribly cramped carburetors. Trying to get them back in after you take them out will make you cry.
Suspension and chassis are nothing special. Generic 80's UJM cruiser shaftie.
Cooling system works fine, and cooks you well. It's a darn hot bike to ride in the summer.
Responds very well to air box modification and the dynojet stage I kit.