I'm using the piano hinges all around, and have not had any significant problems yet....515 hours, about 1.7 years of flying. I think I have one hinge eye on each side on the lower (short horizontal) fasteners that might be thinking about giving up. One nice thing is that with age, the hinges are easier and easier to install - obviously some wear occurs between the pins and the hinge eyes.
The hinges across the top/rear of the upper cowl take some fiddling to get right, and yes, if you have to remove the cowl with the engine hot, it is a good idea to have a long sleeve shirt - there are warm pieces of metal in there!
I think that the 1/4 turn fasteners are a good solution, and considered them briefly, but decided to go with Van's solution to start (there are an awful lot of RV's flying with the hinges!), and knew that I could change later if I needed to. Haven't had a reason to change yet, and the "fastener-less" appearing cowl does get compliments!
Either way works - just make sure that if you go with hinges that you try minimize residual forces in the system - in other words, the hinge pins shouldn't force or pull things into alignment (too much) - the hinges pretty much align naturally, or you're just asking for wear and breakage.
Paul