Hi,
I used the PIC767 for a long time under FS2004 and it is an outstanding example for to which extend "hobby-flightsimming" comes close to reality.
There are a lot of failures modelled, i donīt recall every single one, you can choose them from a failure menu to come in within a certain amount of time. The FMC can fail, engines, hydraulics, packs, gears...oh well, the list is long.
PIC767 lacks from some things, like you do NOT have an ENG OUT page working in the FMC, you can NOT change the ZFW via a graphic interface, you have to dig into the aircraft config file, but thatīs plain text.
So to sum it up, to train real world procedures this is one of the two planes i know about that is able to give a real pilot what he/she needs to train procedures. The other one is PMDG 737, which even outperforms (IMHO) the PIC767.
You can find the 737 under
www.precisionmanuals.com. No, i am not affiliated or employed by them, just an enthusiastic customer.
Hope that helped!!
Best regards