First gens didn't suck. I think the first gen reliability was entirely dependent on conditions and how you washed it. My Blur classic spent most of its life in dusty, sandy, dry conditions. It'd only occasionally get muddy and wet, and that was usually the only time it got washed with a hose (taking care not to directly spray the bearings). In 8 years and, I estimate, ~6 to 8000 miles, it required one bearing job, and it was always quiet, and still is quiet, now that it almost never sees mud. My buds, who rode their Blurs about as often, but slightly more often in the mud, and washed their bikes with high-pressure HOT water FREQUENTLY, directly blasting the bearings, went through MANY bearings and often had noisy bikes. Those axle-shafts on the VPP1s were a PITA to get out though- lots of careful work with a punch and mallet. I eventually gave up and let 'em freeze in. Oh yeah- in that 6-8k miles, I also required new pedals, 2 new BBs (1 octalink failure, 1 external BB failure), new headset bearings, 1 shock and it's associated spherical eyelets (much longer lasting than bushings) and several rear wheel and freehub bearings, and even new bushings in my brake levers. So, I found the pivot bearing life to be in the same ball park as any other bearing on the bike, and much better than the BB bearings, which are right next door to the pivots.
VPP1 wasn't bad, but the new VPP2 with zerks and collets should be bulletproof.