Oil tests are all well and good but you can only get a base line if you have had the car a long time and a cross analysis of those tests.
For example if your only doing 3-4k a year, not pushing it all that hard doing longer journeys and youve not owned the car for long it might not show anything to worry about. The damage could have been done earlier on.
By saying dont worry, its not great advice its a serviceable item, its £1000 to sort or 5-7k for an engine rebuild. It's in his favour for it to go bang really isnt it.
One of those, its worth it for the piece of mind. Mine has done 77k and once I get to 80 il get it done. Ive been doing 1-2k year now I have a little one and two dogs so will take me another 1-2 years.
That being said on this forum specifically since 2011 I can think of half a dozen cars that an S54 has gone, 3-4 a spun bearing but a couple were driven hard or track focused and 1 overheated and warped the head.
Not all cars are on here granted so a small sample size but I think it's still overblown. Worth knowing about and being informed and making an educated judgement.
One of the key factors of there being little to no engine failures is threads like this, educating people. Plus the car is niche and you tend to find knowledgable people wanting to keep these running for a long time.