VRO is fine and my guess is that if you took the lifespan of all VRO engines versus those without, there are probably more cases of death by carbon than death by failed VRO (by nature a VRO helps reduce carbon issues as it will give less oil when the engine doesn't need it).
Now they did have different versions of VRO, that is something to look at - I'm sure the first run was not the best and could be updated with something much more reliable.
With that said - it's a failure point. If the VRO goes south at 200 hours in one of the bad ways they can fail (such that it doesn't pump enough oil and doesn't generate an alarm) you are going to blow the engine at 200 hours, which would never happen due to lubrication in a pre-mixed setup. I'm not a pro mechanic yet have personally owned examples of both a VRO that doesn't pump enough (had twins and figured it out based on oil consumption) as well as examples of a VRO that was just pouring oil into an engine and killed it due to carbon.
Myself personally, I'd rather mix oil than deal with the tank, oil lines, and added parts on the engine. If I have death by carbon at 500 hours instead of wearing it out after 1000 then so be it. If I got a really mint engine with a new VRO on it I might just run it that way, but the first question that arises I'd go to the old school fuel pump - less clutter and simpler to judge, also much cheaper to replace (ie like 50 bucks for a whole new fuel pump and 300 for a VRO, most VRO's are not even repairable).
Jon