Here's another website for CVT's.
http://auto.howstuffworks.com/cvt.htm [nofollow] I've never driven one either, but on paper, in addition to better fuel economy, it's supposed to have better acceleration and hill climbing due to the lack of "jerk" shifting between gears and better use of the engine power curve. If possible, I'd recommend test driving a car with a CVT and a similar model without one to see if you notice any difference.
Sounds like they've developed a steel belt that's more durable than the rubber version found on previous models. That's why CVT's are starting to pop up in higher powered vehicles like A4's, A6's, Murano's etc. back home in the States.
Regarding repair frequency, I have no idea how they compare to mechanical or automatic transmissions. I'm guessing the biggest issues would be replacing a belt or making sure the the two pulley halves are "shifting" together, which I'd be tempted to leave that maintenance to the professionals anyway. And pure speculation on my part, but since CVT's aren't as common, maintenance might cost more. Check with your dealer.