I've had an XL-2 for years, and it's been my main bass off and on, including recently (see my profile photo). The pivot plate is one of the utterly brilliant things about the bass. It's effortless to swing the neck up or down as one plays if that makes the reach more comfortable, of just for dramatic effect, so I've never, ever, noticed that the nut seemed far away.
I bought mine in the late 1980s, when they were no longer trendy but were stll easy to find. My objective was to have something small and rugged with which I could travel, but it's got such a fast, even neck and such a big, punchy, detailed sound that it became my "go to" bass. The only thing it lacks, for me, is a B string. I hoped for years to come across one of the very rare XL-25W's, but finally gave up and ordered a Stealth 5 string from Status Graphite (should be ready in a couple of weeks!). I opted not to go with the more Steinberger-like Status Streamline precisely because it *doesn't* have the pivot plate, and I had doubt that I'd find the compact format workable without one.
As long as you don't let the electronics corrode, 'bergers are nigh-on indestructible and I've never had any problem with mine. The one component that apparently does fail after enough use are the "claws" that hold the tuner end of the strings. These were made from a relatively cheap steel alloy and many of them fail after 20-30 years of use. Fortunately, there are a couple of people in the USA who manufacture stainless steel replacement parts and sell them on Ebay for something like 20 quid the piece.