It's hit-&-miss. I've had ones that outlast the bike, and ones that get center-lock (brinnelling) quickly. For the bike you're describing, if it's using threadless, look at an alloy Dia-Compe ball-bearing one. Light, servicable, reasonably cheap. Watch the seal ring on the top end, it tends to herniate out during assembly... just poke it into place with anything thin.

As for them really failing, I've seen cracked crown races and occasionally cracked lower cups.