I race somewhat near you and this is my first season racing buggy, I bought a second hand 8ight right after the 2.0 came out. As far as parts wearing out, I just don't see it. I've run 3 gallons through this thing and the only thing I have had to replace is the bearings for the rear diff outdrives and a clutch bell. Sure the suspension is a little sloppy, but for the price of Losi parts, which all hobby shops stock, I can put one or two 2.0 parts on at a time.
I'm not new to RC at all ( been racing 20 years) but with my second hand budget car I bumped into the A main and finished 6th last week, 4 guys ahead of me were sponsored drivers. If you are really interested in just bashing go with an Ofna Picco, but if you think you want to race at all go with a Losi. I got my whole setup for under $500, if you shop around and talk to the local guys at your track (the bullet town guys are very helpful) you will be suprised at the deals you can find.
Good luck