Matt,
Nothing but good things about the Nexus hubs. The Red Band line is the upper end, but I've heard about no failures with the non-red banded Nexus hubs. I've ridden both, and both preformed very similarly.

I'm one of a loyal following of internal hubs, and have them on all of my bikes ('cept my SS/FG). A search in the Commuting forum for internal hubs will bring up a huge list of threads discussing them.