'Too many moving parts' indeed, Mr Pace !
And all trying to get away from each other !
Maybe I have been lucky, but with my logbooks totalling 3,500+ hrs now, mostly SEP, I can honestly say that I have never had a real engine failure.
My old instructor told me emphatically 'Don't fly crap aircraft !' and seemingly I never have. To that I would add a personal recommendation never to fly in crap weather either. I confess to having done plenty of that .. and pretty scary much of it was too. But I am still here.
Caveat aviator.
SI