Jay - to be fair, I didn't just say "it would work fine ;)"
There are always caveats with modding of course. How well your motor takes it is dependant on many factors - not the least of which is who does the install and who sets the tuning up. It makes all the difference in the world, from the biggest mods to the smallest.
Further it depends how often you use it as well.
If you do a proper wet type 50 shot kit, and your motor is in top shape to begin with (do a compression check first to be absolutely sure), I see no reason why longevity would be compromised at all, assuming the install is done by someone familiar with nitrous.