I just saw this message in the list of compatible devices.
While most compatible devices work with any model of hub, note that Iris v1 (AlertMe) devices are not compatible with hub model C-8 or C-8 Pro (only models C-7 and earlier). Specific devices below may also have other notes.
Mostly all of my devices are Iris v1. If my hub ever fails will the C7 model always be available to buy to replace it?
Always? Probably not; I don't believe they are being produced any longer, but there is still a supply for sale and warranty replacement. Note also that Iris v1 devices can be migrated to a C-8, just not newly paired, so you wouldn't be totally out of luck unless you reset or need to re-pair one.
If this is a big concern for you, I might suggest replacing the devices. Besides being very old at this point, users were compensated by Lowe's for these devices (a move pretty uncharacteristic in this market)--a good chance to invest in standard devices IMHO. 
Always is a very long time.
If you’re that committed to using the old iris v1 sensors, you might want to consider having a spare C7 or two on hand.
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