A friend of mine was doing eights on pylons practicing for her commercial, in a Piper Arrow. The engine started to run rough and about two seconds later it shut down. Luckily, she happened to be right on top of a grass crop duster strip and in about 20 seconds she was on the ground. They took the engine apart on the airplane and they discovered that one exhaust valve head had broken off, but it got sucked into two other cylinders and those cylinders also ended up with bent valves, so the engine completely shut down. So yes, it can certainly get you killed. Interestingly, I had flown this plane with her about four days before that, and I remembered it would only do about 120 mph with the gear in the flaps up at cruise power. There are tons of oil jugs over in the corner of the hangar, and the engine had plenty of cylinders from those discount places that advertise in trade a plane. They stuck four cylinders on this thing, and they flew it another few hours until one guy took it for a 90 minute cross country and it used up all the oil and lost oil pressure on final. He measured the height of the fence, but he did make the runway. They finally sent the whole thing off to the engine shop, were they declared the whole thing unserviceable.