I would like to hear about a single documented case of death due to failure to keep annual service on a reg. This whole argument about servicing your reg annually, because "your life is worth it" is just ridiculous.
99% of reg "failure" results in freeflows or leaks. Regs don't exactly deliver air, they regulate it's flow from the tank. While something like a sudden HP seat failure (very rare!) can be pretty scary, especially to a new diver, if it's life threatening, something is seriously wrong with the way that diver is handling the situation. A sudden uncontrolled free flow is no fun, but hardly life threatening, as long as the basic fundamentals of OW diving are being followed. Those include the buddy system, staying out of overhead and mandatory deco situations, and having unimpeded access to the surface at all times during an OW dive.
This is even true if you make the incorrect assumption that annual service will prevent reg problems. Just as often as a good service will prevent a problem, a poor one will cause one. Don't forget, some of these guardians that "keep us alive" through their professional servicing of our regs have gone through an exhausting 2 days of training.
If reg failure was truly life threatening, don;t you think the qualifications for professional service would be a bit higher than simply working at a dealer and attending a 2 day 'no-fail' seminar?
I have seen a broken exhaust valve on an Octopus (for an instructor teaching an OW student).....