Ray, Here's hoping it outlives us all. They were well built back then.
Popi, That's a good one.
As far as wear on the engines, I agree, depends on the engine and the load.
I have pulled 58 cars including some PW and some Die Cast with my Imperial Big Boy. The train WAS chasing its tail with about a 3 foot gap. The loop was roughly 11 feet by 34 feet with a notch containing a reverse curve.
It was also not level. Grade of about 1% up one long side and down the other. Curves were O-72 Realtrax.
I would run the train for a half hour or more at a time with no problems. The engine does not get hot, the Tender is warm as usual from the Electronics.
I would not do that with a small engine. The Big Boy has 2 good sized motors driving it's 16 drive wheels.
Another Angle on the loading: The more power the motors pull the less load the Regulator and heat sink in the tender actually has to dump as heat.
This of course assumes Command Control, not conventional, In Conventional that extra power is held at the transformer.
For a conventional engine I'd say as long as it's running withing 25% of it's unloaded speed, it's OK, if it slows a lot, it's overloaded and will overheat.
Heat is what kills all electronics, whether it's from dissipating a spike or working too hard, the very small junctions in the parts overheat and poof, they are gone.