i've mosty only heard stories of the chrome ones failing or at least starting to feel like garbage. you get what you pay for i guess. however, xcutterx just had a set of the magnesium mallets have one of the tension springs sort of pop out of place.
i have three pairs of eggbeaters. the candy sl's are my newest and least ridden, and my single ti's i've had for just over a year.
i also have the older ss ones. i've had these for well over three years and bought them used. one developed play once; so i pulled the rubber endcap out, lubed everything, and tighted it all up. haven't had a problem since. these pedals are my transient pedals in that they get ridden on fixies, as well as on my mountain bikes. they get a lot of abuse and still are holding up super well.
when you parts speak, listen to them.