To try and not be so doom and gloom there are many S38/M88 motors out there that are over 200k without failures. My friend Phil in CA had a 300K motor that still ran well. I think on the mye28 forum there was a 400k motor.
For some reason these motors are hard on valves. Exhaust the worst and intakes not far behind. It is very common to have to replace 6-12 valves on a rebuild because they leak.
That's why a pressure and leak down test is so important when buying a motor or car with these motors.
That said it is just as hard to find a machinist that understands these heads?
They are so easy to screw up. Since the valve adjustment is above the valve stem the length and INSTALLED height are critical. All 24 valves need to be within a few thousandths of each other or.... you will have a mess when it comes to installing the shims to adjust the valves.
I have a friend in Florida that has a M6 track car. His motor was built by a respected builder in NC a number of years back. His motor threw a rod (IIRC) because it spun a bearing. So I helped him find another block and a head that needed rebuilding. He also thought he had a good machinist but upon re- assembly he found that he could not adjust the valves because the shims were not thick enough. This means the machinist cut the valve stems so they would all match probably using the shortest stem to match to so when installed all the valves were too short and this required large shims to get the proper clearance. It was not possible and he ask me what to do. The only thing that could be done without buying 24 new valves was to put a device on top of the valve stem called a lash cap. It is basically a cap that fits on top of the valve stem and takes up that gap that was created when the stems were cut too short.
Now you have added mass to the valve train that will cause more wear and make one a little more nervous above 6k rpm.
The other potential problem is the timing chain guides. There are a few documented incidents of the guides breaking which may break the chain but usually the pistons hit the valves and you've got a rebuild with all new pistons and 24 valves.
The S38 USA motors have double row timing chains and the M88 Euro have single row chains. As far as I know the M88 chain is not a problem but the same guide design can be a problem just like the S38. Yes single (M88 and double valve springs (S38 but with a head rebuild easily upgraded.
Also remember the S38/M88 is just an S14 with two more cylinders.
So a good S14 machinist would understand the issues I mentioned above.
HTH
Gary