FH1100, as much I as I dislike your rant and religious/trust aspersions to my professional I'll just say: off thread, please take it somewhere else.
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Bob, like others I can only give you my own opinion on this matter. I too have some fixed wing time up in the levels which I know has made a difference.
I will choose my own cruise height based on all the factors: fuel economy, OAT (I hate cooking in my suit!), scenery, terrain (ie mountain winds, water), comms range, bird risk, traffic congestion, and so on. Please don't discount the idea of just enjoying the ride.
There are days when I will cruise just a few hundred feet off the ground soaking in the sights, but I am very aware of the higher bird risk and reduced communication. Other days I will be a mile or two above the ground where it's hard to even tell we are moving, but I am keenly watching the weather below and concious of how the gearboxes are behaving.
As far as the component failure theories, I can only offer hangar stories: when my engine has quit I wanted altitude, when the gearboxes lost oil I wanted to be low.
I've had both happen. Ironically, the most notable auto started high, I was very relaxed flying to my chosen spot, and was only able to see the rough terrain when it was nearly too late to choose another, go figure.
With both C-Box's that went, I was both high and without a place to go. I was fortunate that they kept playing as long as I needed them to. I have have had enough friends who weren't so lucky.
The best advice I can give is to have an open mind. Plan each flight based on the merits of today, with the benefit of the wisdom of yesterday, not with a fear of the unknown.
And if possible, like SAS, my cross country/ferry flights are planned one amazing sight/adventure to the next. Never in a a straight line!