The cons about reliability problems are a bit of a null discussion. If you go with any of the top name companies out supplying air bags you probably wont run in to any major problems. Airlift uses firestone bags i believe which a fairly high quality for the money.
Water isn't a massive issue other than it creating some problems for the pump, so yes, evacuating the tank on a regular bases is necessary.
The only open ended question is the damper design. This is still a crapshoot imo as most of the dampers offered with airlift kits are some random generic damper.
However because air bag kits are rather kits, you can easily mix and match parts as needed. The main thing that needs to be picked carefully is the leveling system and the lines. The tank, compressor and bags themselves can be swapped out relatively easily.
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