Now, I know dive shops all over the world that I think are very good operations and there are a few that I might trust their equipment, but I think in general you are risking your life with rental regulators and BCs.
If I don't have the money to invest $1000 - $1200 in a good regulator and BC then I just won't dive, period. Your regulator is single most important piece of dive safety equipment. If you think so little of your life to trust it to some rental gear then I don't think I need to be diving, period. The BC is the 2nd most important piece of equipment.
Bottomline is that scuba isn't for everyone. And, if you don't have the money to purchase safe equipment and have it serviced on a regular basis then diving probably isn't for you, just my opinion.
Quite the sales pitch for inexperienced noobs to buy new gear (at least $1000 worth, preferably more). You don't happen to have friends or family in the new gear sales business do you? Maybe even yourself?
So the only reg malfunction you have ever witnessed was personal gear, on a dive trip, yet you think people are risking their lives by renting gear? The OP and this goober can have their opinions, I'm wouldn't dream of trying to change something that is probably just an on-line facade; I just hope all the less experienced divers and web surfers can see through the BS of every absolute poster!
Anyone who thinks there is one gear answer that works for every diver, for any gear question, is someone who I don't think understands the concept of thinking!