You shouldn't need to change the oil very often. I changed mine after about 6 months, but after I made a 2k mile trip from Dallas to Portland. I probably didn't even need to change it then... I just felt better about doing it.

I was reading a bit on an SVT performance forum about changing SC oil. The Cobra owners, running 14 or so lbs of boost, change theirs every year or so becuase some run boost higher than factory specs. The VX kit is pretty low (comparably), and I wouls say to change it maybe every couple years... but it may be a good idea to check it every couple or few oil changes, just to make sure the level is ok. In fact, you should check it before you install it to make sure it is full. If needed, you can buy the SC oil from a GM/Buick dealer for about $7 - $8 a bottle... just ask for their supercharger oil.

As for wear on other parts... just keep an eye on the belt. Stress shouldn't be too high on the rest of the engine or tranny, although it will be a bit higher than stock. Just check the belt as often as you check your other belts and you should be fine.