The MC-1 places its signal coils way out on the business end of the cantilever, only a millimeter or so away from the stylus. Since the coil position bypasses most of the cantilever's length, the MC-1 is a good performer with excellent dynamics and immediacy. But in return it is tricky to set up (body clearance is minimal and stylus visibility poor), and the 0.2mV output and moderately high self-impedance will pose a challenge for many phono stages.
When the stylus wears out, or if the MC-1 breaks, it may or may not be repairable. The signal coils are micro-circuit boards and delicate in construction (so are the lead-out wires, which run up the length of the cantilever), and their proximity to the stylus leaves them comparatively unprotected. Also, the magnetic circuit's nearness to the LP surface tends to suck up dirt, which over time can clog up the magnetic gap that the signal coils move in. Finally, the close proximity of signal coils to stylus may turn out to be a headache for retippers.
With all that said and done, if you own a low-noise high-gain phono stage and relish the thought of listening to something exotic and rare (I'd be surprised if there are many functioning MC-1s left, even in Japan), go for it.
Enjoy what life brings your way!
kind regards, jonathan