Its good to hear people have faith in the equipment's longevity. I don't have any reason to think it will wear out and honestly, it fits my needs and I like it, so I hope it lasts quite some time. I've done a little more research into compatibility and this is what I gather:
The rear cassette and chain will the first things to wear out. Modern cassettes are wider as they have more gears, so it would be necessary to replace the cassette, freewheel, wheel, rear derailleur, and rear shifter as a unit if I could fit a new wider set up back there.
I would appreciate some feedback as to the veracity of my beliefs. Thanks for all the help so far everyone!