The only thing that ever went wrong with my XV750 was the stator, which I diagnosed and repaired myself. Other than that it was a trouble free motorcycle. I should point out that the stator started showing symptoms before it ever left me stranded, cool.
The Virago seat was awful. On a short hop it was fine. For all day riding it was torture, pure torture.
Other than my current bike, this might have been the best bike I ever owned. I loved the XV750 Virago. My bike had the Cobra drag pipes and I thought it was awesome. Perhaps the longest trip I ever took (in terms of consecutive days on the road) was on the Virago. I have nothing but fond memories. Yes, the stock seat caused some moments of pain, but the experience was so good it far outweighed the sore butt.
If I had it to do over I would have preferred the XV1100 for interstate driving. The 750 seems like it's screaming at the higher ranges of interstate speed. However, both the 750 and the 1100 are exactly the same physical size. The power of the 750 is however, adequate for touring.
As part of my long trip I rode the entire Blue Ridge Parkway. The XV750 was the perfect mount for that trip. It was in it's element climbing and carving the curvy mountain roads. The Yamaha V-twin has a great power band and a nice exhaust note.