We have three Canyon's in the household.
No problems at all with the Nerve XC or AM, both 2011 models. Came ready to ride, and both have been hassle free. IMO they made a mistake speccing the large air can on the rear of the AM, the shock blows through the travel more quickly than I'd like, but Propedal sorts that and on the upside it's an immensely plush ride.
I did have a problem where the RH SPD cage came loose after 6 months, a known problem. Sorting it was hassle free, with postage costs returned, but it did take about 5 weeks.
I also have a 2012 Torque FRX. I love the bike, and again came completely set up. We just had 8 days hard riding in PDS, and on day 4 the back wheel practically disintegrated. I must have smashed it hard, the whole thing just came loose. In retrospect it must have been coming loose for a while and I hadn't spotted it, as the bike is way more planted around fast corners now, but c'est la vie.
It took me 20 mins to tighten back up, so I only missed one run, but I guess this would have been a much bigger problem had I not noticed and/or not been able to rebuild myself.
I've found Canyon UK to be perfectly good to deal with, and to resolve things quickly. I'm flabbergasted that something like needing an extra washer would be thought to merit returning (rather than a trip to an LBS at Canyon's expense) but the hanger misalignment sounds like a nightmare. Fortunately I've experienced nothing like that.