Sure is DeeTee, thats why so many wheels ups are done. Trng Capt pulls appropriate CB to prevent annoying noise and subsequently forgets to reset it till hearing a nasty matallic scraping noise, and a terrible sinking feeling.
The benefit of simulators is that you can practice to your hearts content without having to 'ignore' warnings, or 'simulate' failurs by simply retarding a power lever/throttle/mixture control.
"Touch wood", I've only had one 'failure'. Up to experiencing it, all my multi training had been in the aircraft.
The engine indications in the failure I experienced were nothing like those I had seen during training. The mental confusion this caused was shortlived but extreme.
On aircraft training, as all training, has its limitations, which is why in other threads, the point has been made that experience counts.
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ChickenTrainer