1. Failure to keep speed under control!
2. Failure to notice speed trap while suffering from problem one!
3. Failure to stop for fuel, then running out, due to having so much fun!
4. Failure to remove grin, due to failure one without failure two or three!
OH, on the BIKE!
1. Tire puncture
2. Bulb failure (Low beam or tail light most likely
That's about it. Your bike is new enough to not be bothered yet by any switch failures due to grime or fatigue, and has enough run time to likely be well past the likelihood of any electronic failure, the clutch seems robust, the rear drive is likely a somewhat different design from the LT, prior K-bikes (except the S and R) or R-bikes, so hopefully won't have any issues (anyone heard of a rear drive failure in a K1200R or a K1200S?).
I met a K1200R rider over the weekend that managed to bend the torque arm to the rear drive, but I think he was popping wheelies with it. For sure, listening to him brag, he rides it HARD. (He'd already lost his license, but was riding it anyway!)
Have fun. I'd SO much like to join you guys, it's only a few hundred miles up there (day ride up, and a day ride back), but my work schedule is crushing right now