Generally, using timers to update content on a page via Ajax is at least as robust as relying on a long-lived stream connection like Comet. Firewalls, short DHCP leases, etc., can all interrupt a persistent connection, but polling will re-establish a client connection on each request.
The trade-off is that polling often requires more resources on the server. Even a handful of clients polling for updates every 10 seconds can put a lot more load on your server than normal interactive users, who are more likely to load new pages only every few minutes, and will spend less time doing so before moving to another site. As one data point, a simple Sinatra/Ajax toy application I wrote last year had 3-5 unique visitors per day to the normal "text" pages, but its Ajax callback URL quickly became the most-requested portion of any site on the server, including several sites with an order of magnitude (or more) higher traffic.
One way to minimize load due to polling is to separate the Ajax callback server code from the general site code, if at all possible, and run it in its own application server process. That "service middleware" service can handle polling callbacks, rather than giving up a server thread/Apache listener/etc. for what effectively amounts to a question of "are we there yet?"
Of course, if you only expect to have a small number (say, under 10) users using the poll service at a time, go ahead and start out running it in the same server process.