Thank you for the information. I realise that old aircraft will have old engines, but given the complications and difficulties in managing them and the drastic consequences of their failure, surely some updating or re-engining would be necessary. If only for the safety of the pilots. It's quite surprising that the authorities haven't mandated this: similar failings with fatal consequences in a road car would have resulted in recalls and compulsory modifications. I assume that economics come into this: cheaper to re-fit a recondition engine of the same type, than a new one. And certifying new engine designs is probably not economic for manufacturers either.
But also, maybe, part of the charm and attraction of flying small planes is perhaps actually mastering the complications and idiosyncracies of each plane, and managing the enhanced risks. Its a world I know very little of, and respect and admire those who can and do those things.