Okay; it appears here we do have a certain amount of misunderstanding, and I'm not just pointing at everyone else and excluding myself.
"Regular maintenance", at least in my job, does not always mean "replacing parts". Maintenance involves inspection and testing that determines whether parts need to be replaced. An o-ring that is starting to dry rot, for example, is going to have tell-tale evidence of that upon close inspection, and should be replaced. One that is still in excellent shape is also likely to be evident upon close inspection.
I was not necessarily advocating a yearly rebuild, but rather the regular inspection and appropriate service of the equipment as determined by the inspection. Here is where my comment about a reputable shop is important; a shop that is only in it for the quick buck is going to try and sell you far more service than you need. Rather than replacing the schrader valve in the BC inflator, they'll sell you the whole inflator tube assembly, even if the rest of the assembly is still in good shape. (or worse, they'll try and convince you to buy an entire new BC)
While I know the comparison of auto shops to dive shops isn't perfect, there are some common traits. We have a chain of tire shops here in Tucson that has an excellent reputation for ethical practices. In all the times we have taken our vehicles there, they have never tried to sell us service we didn't need, they've never pulled the "bait and switch", and have always been completely up-front about any work they do on our vehicles. We trust them, and when they tell me a part is worn and needs replaced, I don't start wondering if it's really bad, or just a high-profit repair they can stick me with.
This is what we want from the techs at the Dive Shops we deal with; if the tech tells us the regulator needs rebuilt, we should be able to trust that this is really the case, and it's not just a quick buck for the tech and the shop. So far, in the small amount of dealing with the tech at our LDS, this is the feeling I've gotten. He could have sold me more service, especially since I'm a noob at the scuba stuff and would probably not know better. He didn't; he serviced the BC for a very reasonable cost, and it worked great on our dive trip.
The real risk is from people who take the attitude with their equipment (as many people do with their automobiles) that, as long as it's working, it never needs to visit a shop or have any maintenance.
You know; like those folks mentioned that get the blank look when asked about rinsing the regulator after a dive. Think they bother to take it in for an annual inspection either, so long as it works when they try it?