Proper inspection of the stands, regularly should help reduce/eliminate the rate of failure, every tool will fail if it is pushed beyond its ratings far enough and put in the wrong spot. And while it is cheaper steel, i can't imagine a jack stand that is within a few years of purchase that is properly inspected and has light use within its ratings would fail, and i would imagine its failure rate at that point is comperable to a craftsmen or snap on or matco stand would have. So yeah they do fail, i bet if a little inspection of the stands and common sense on where to place the stands, and to work within the ratings would keep you much safer. If the stand is defective it sucks but ANY manufacterur can have defective products, just because some guy on IH8MUD's stand failed doesnt mean they are crap, you don't know the whole story, whether the stands were within a few years old, and if he properly used the stand, as misproper use of them can cause failure. And yes i was worried they might not be as safe, but i then thought they would not be able to sell them in this country if they were actually crap, considering the high rate of sueing and the strict restriction of the Gov on safety equipment.
So yes i will be buying my $13 3 ton stands.