Your problem with having an OS with no further updates (i.e the OS 4 device) will just be security updates and any apps that require a newer OS, and decrease battery life depending on how 'new' the old HDX is.
Apart from that I can't imagine any issues, I guess it all depends on how much you want the specific performance of a HDX Fire and how much you can get it for. No current Fires will have anywhere near the specs of the HDX devices.
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