Safety: While it had the standard safety features for its time (like airbags and anti-lock brakes), its safety rating isn't stellar by today's standards. NHTSA and IIHS crash test data from its production years (2006-2009) are likely to be less comprehensive than modern testing. It's crucial to remember that vehicle safety technology has advanced significantly since its production.
Reliability: The XLR-V, like many high-performance luxury cars, suffers from some reliability concerns. Common problems reported by owners include issues with the Northstar V8 engine (oil leaks, valve issues), the electronic systems (especially the infotainment), and the complex convertible top mechanism. Repair costs for these issues can be substantial due to the car's complexity and specialized parts. Finding qualified mechanics experienced with these cars can also be challenging.
In short: While it might have been considered reasonably safe for its era, the XLR-V's reliability record is not its strong suit. Buying one would necessitate a thorough pre-purchase inspection by a mechanic specializing in Cadillacs and a preparedness for potentially significant repair costs. Its age and complexity increase the risk of unforeseen mechanical issues.