The hinges feel a lot smoother than the 3DS XL. They can be delicate, but just don't flip open the screen like an old flip-phone. I've never had hinges break on any of my DS's, though, so don't worry about that one.
There is almost no cross-buy. The only example I can think of at the moment is Mario Vs. Donkey Kong: Tipping Stars.
I can't imagine a price drop happening. I imagine that the New 3DS XL will be the final step before the next handheld generation, much like the DSi and DSi XL were the final steps before 3DS. As far as whether to jump in now, it's up to you. If you want a special edition and don't mind waiting to play games, do that. If you want to play the games now, I'd just go for the standard model.
I prefer X/Y just because it was a new region and played perfectly for newcomers/old players. ORAS has more features and lots of resources for competitive players. Not to mention, you need ORAS to play competitively. So, for you, an old player coming back, I'd go for XY, then ORAS if you feel the urge.
Recommended Retail Games:
Definitely get a Zelda game, but what you get is up to you. If you have never played Ocarina of Time/Majora's Mask, go for one of those. I'd recommend Ocarina of Time first over Majora's Mask, but Majora's Mask is my personal favorite of the two. If you have played those, get Link Between Worlds. No matter what you choose, you can't go wrong. They're all excellent games.
Mario & Luigi: Dream Team (I love these games, so I have to recommend it)
Kid Icarus: Uprising (It has its charm, and it has good online play)
Kingdom Hearts 3D (If you like Kingdom Hearts, you'll love this one)
Ace Attorney Trilogy/Dual Destinies (If you've never played an Ace Attorney game, but love Professor Layton, definitely get the trilogy. So good. If you have played previous games, get Dual Destinies. Still just as good.)
Fire Emblem: Awakening (This was my first entry into the Fire Emblem games, but it is amazing. Engaging strategy combat. Plus, you get to play matchmaker with all the characters.)
Soft Recommendations:
Kirby: Triple Deluxe (It plays well for a Kirby game, but it didn't grip me as well as I hoped it would)
Luigi's Mansion: Dark Moon (Definitely fun and charming, but it lost its appeal over time)
Not Recommended:
Paper Mario: Sticker Star (This game is a travesty to the Paper Mario series. If you like past Paper Mario games, you'll definitely not like this one. It's incredibly frustrating.)
Recommended eShop titles:
3D Classics Kid Icarus Mario's Picross Donkey Kong (the gameboy game, not the NES title) All three Zelda Gameboy games (Link's Awakening, Oracle of Seasons, Oracle of Ages) Pokemon Trading Card Game Pokemon Puzzle Challenge Steel Diver: Sub Wars Ironfall: Invasion Pokemon Shuffle