From what I have read on some HD forums is that the "tried and true" HDers are ****-bent on Harleys being traditional air cooled behemoths. Many even give Sportster riders a hard time and call them girl's bikes. Even some of the Sportster riders share the same air cooled attitude as the aforementioned BT riders. They absolutely hated the VRod when it came out, and they don't consider the new liquid cooled Street model any differently. Not "true" Harleys according to them.
Harley is not after the older diehard Harley fans, they already have them. The way I see it is that Harley is after a new market that they have never had a part of, and that is the metric bike loyalists, at least in the cruiser market. I have looked at similar Metric bikes, and HD has them priced competitively with the Hondas and Yamahas that I looked at. For Americans, this is good, because now we can buy an American made bike in a smaller displacement, at prices equal to the Metrics. Not everyone wants a $20-30k geezer glide or road couch. Some want a good all around bike that gets good fuel mileage. Until now, the only other HD options were a Sportster 883 or 1200.
Some riders don't want an "antiquated" air cooled engine, but prefer newer liquid cooled technology. Then there is the vibration of the air cooled engines... some live for it, some hate it. I would venture to guess that the Revolution engines are smoother running than the traditional HD air cooled counterparts. My Sporty is anything but smooth, but I like it.