ScreaminSpringer,
Only issues I have had with the 103 is leaks at the pawl / transmission. Great reason to put chrome primaries on at warranties expense. The only other concern dude mentioned and that is the cam tensioners. You can get by that by doing the 07 conversion which will get you a higher flow oil pump and the new tensioners and a quiet running motor or going to a gear drive setup. The 575 cam combo in the 03,04,05 and 06's has been fantastic. Just a little noisy.
I only had a couple of chrome issues with the 05's. The 110 has been a pain in the arse. 5 times I have had the dreaded head leak / base gasket leak and then I had lifters fail as well and destroy my cam chest during bike week last year. If I were doing it all over again .. wait I went back and bought another 05 Cherry. As ole Hubbard would say for me There endeth the Lesson.
Currently I am not a fan of the 110, nor am I am fan of the fly by wire control. If it were me I would look towards to the 05. The only reason I would consider an 09 is the because of the Road Glide, but I doubt I would keep the 110 engine in the bike for very long.