Sorry to resurrect this thread again, but the risks are real; very real ...
Fritz Schoder, well-known and experienced ferry pilot mentioned in a couple of the posts above was ferrying a Cirrus SR20 from Goose Bay, Labrador, to Narsarsuaq, Greenland, on 02 February 2007 when the aircraft suffered engine failure. He ditched in the Greenland Sea but tragically did not survive.
Great bloke : RIP Fritz.