Well, it all depends.
The FADEC sophistication gives the designer the ability to make the engine highly "bulletproof" - he can readily make the software protect the engine from almost any overboost. (Albeit, as mentioned before, EGT/TGT/ITT limits are still left to the pilots to observe...)
Older engines - pre-FADEC - have to rely on that bucket of gears, cams, valves, and bellows called a FCU or MEC or whatever, and there's only so much hardware you can cram into that device. So, it probably doesn't give the degree of engine protection younger pilots have experienced.
