Car engines have more artificial intelligence in terms of sensing equipment than aero engines. This is mainly for the average joe who doesn't know anything about engines, but can jump into a car and drive - they don't need to know the 'green area' of the oil pressure and most of the time (unless it is a french car) won't even know the oil temperature (saying this my old 206 gti output oil temp and level).
However, cars are great at sensing problems which don't exist, the problem is the sensor. There you go the 'oh my god light' or Engine Management Light illuminates, retards the rev limiter to 3k rpm of which you will achieve 50% of total power which, on most cars will be achieved at just shy of 7k rpm (unlike my late prelude, i will come on to that...). This will be no good in an aero engine, so less is more <-- that is the key.
My last car was a 2.2 VTEC Honda Prelude which had 190,000 miles before I sold it on to someone else who was extremely keen in this car. Nevermind redline, it would get bounced off the limiter at least once in the 20 mile trip to and from work, of course when the engine is nice and hot - guessing when the oil temp is over 80oC - not rocket science. Even though there was nothing wrong engine wise, the 4 wheel steering would occasionally pack up. The previous owner had wired in a switch to reset tripping the fuse effectively which kicked in the 4WS again. Again, more computers to go wrong.
Liquid cooling versus air cooling; I am not an expert by any means, but common sense tells me air cooling is better, at any altitude. You don't need to worry about mixture of coolant at a certain alt which will freeze your coolant, remember - strong coolant (will not freeze easy) will eat through hoses quicker...not an ideal situation...Again, another thing to go wrong.
Last point to make with aero engines, if it ain't broke don't fix it works with me!