We also have private well water that tests safe but it does contain iron and high levels of calcium and/or lime. We get orange stains in toilets and heavy lime buildup in the showers, coffee-maker, teapots, etc.
I don't avoid my tap water but I don't drink large quantities of it either. I'll use it to make coffee or tea, I'll use it for cooking but I always have bottled water on hand for drinking throughout the day. I drink lots of water and I want to limit my exposure to the metals/minerals in my well water.
One interesting side note -- we had our well head replaced a few years ago and the process must have somehow stirred up some rust in the tank/lines. I flushed the lines before drinking any of the water (or so I thought) but a routine blood test a few days later came back with extremely elevated iron levels. A follow-up test done a week later showed high but reduced iron levels. So, yes, the metals/minerals in your drinking water does make it's way into your system.
Does your community have data on the water quality tests? You could check with town hall, if you have such a thing where you are. Someone has to be testing the reservoir - the data exists somewhere.
edit: I found the EPA standards for contaminates
here.
The maximum allowable iron level is 0.3 mg/L
That link was found at the KS Dept of Health and Environment website
here