And as another commenter said, it lasts forever. My favorite pan has been in my family so long (at least 5 generations) that no one really knows who owned it first.
Most people I know who have had issues with cast iron either buy bad cast iron, or don't know how to season a new pan - an old pan can be re-seasoned in about 30 minutes, but a new pan will take several days, and possibly some sandpaper, to get its first good seasoning.