The general consensus seems to lean toward the AVL in terms of overall reliability. Pete Snidal, who wrote a popular manual on R Emsaid that with the AVL, R E seems to have gotten it right. It has a lot of the features you would pay extra for to bring the older iron Bullet up to date, which saves quite a bit of time and money. I have one AVL, a 350 cc from India, and find it great. I have another one on its way. I bought them because I live far from parts and trained mechanics, figuring they might be more trouble free - time will tell.
Some don't like the styling of the imported AVL bikes up to now, but with the introduction of a more classic styling this year, that may be the way to go. Styling and reliability.
But there is the tradition of the older technology and older engines, that some prefer. There is an Indian correspondent on the forum (Indian48) who has both a 500 cc Machismo AVL and now, a 350 cc iron engined one ( with classic styling) and he seems to prefer the iron one. I think if you read further in the various contributions to the forum, you will find what you need to know. Very good luck to you and welcome to the world of R E!
Regards, Larry