If you kep the boost low, the tune conservative, and stay on top of all regular maintenence (and there will be more of it) sure it can be extremely reliable.
Now with that said very few people can put on any type of power adder and not up the power level at least a couple times. So with that the reliability goes down.
A good example of this for reliability is the '03/'04 cobra or the lightning... both are sc'd and dead reliable.
Sure, just get it professionally tuned. Get some gauges (temp, boost, oil pressure, fuel pressure, maybe a wideband) to keep an eye on things (although not absolutely neccessary, it's a good idea). Keep after the routine checks, and don't run it WOT all day long everyday, because whether it's supercharged or not, it'll break if you do that.