For us old guys, it’s probably important to understand when (in time) failures have occurred, because engines have improved over the decades. When I was a young student pilot over fifty years ago, every pilot in the FBO had put a light plane down in a corn field due to throwing a rod, sucking a valve - something internal to the motor. As a result, engine-out practice was serious and always talked about. Fast forward to today, when actual engine failures are much less common - and when the fan does stop, it’s usually due to loss of fuel, spark, air - not a broken rod.
Why the difference? My hypothesis is that in addition to improvements in metallurgy (your Lycoming is definitely NOT your grandfather’s Lycoming), we know a lot more about what’s going on in our motors because we have four-cylinder CHT’s and EGT’s - and manage the engine more appropriately than in the old days, when we didn’t know any better.
In more than fifty years of flying, I probably have close to 6,000 hours in piston singles, and have had one engine-out landing - due to a stuck fuel valve in the airframe that starved the engine for gas - nothing to do with the engine itself.
I still think about engine outs, and where I’m going to put the plane if it quits - but not as obsessively as in the old days - except of course, when I’m over rugged, un-landable terrain! (Or, of course, when I’m training up for a flight test program.)
Paul