I've seen an air suspended car loose it's air out on the track. Twice. The Hot Rod 4 door Malibu. I was out on the track at the same time for one of those times.
I know the racer that drove the Air Ride Challenger on that FORZA tv show. He didn't like it. Wasn't reliable either. I think that was an early version for that car. And he said the car was just not well sorted out nor well built at that point.
There was a guy here with a black 67 Cuda convertible that struggled with issues on his air bag system. I think that had to do a lot with install quality. But whatever he had wasn't idiot proof.
But I admit the cars look great when you can adjust the ride height down when they are parked. You can't do that with any other suspension.
And you're right, you can cruise your car with plenty of header ground clearance and bring it down for better handling at the track. Not easy at all 4 wheels with most any other suspensions. Easy to do with on the front torsion bars of Mopars, but not the rear.
It's a great way to get a wide range of certain characteristics.
I think a good solid well though install will go a long way with realiblity. As with any custom part.