I bought a "fair amount of lights" so I would not consider myself unlucky despite that the following fails..
Budget lights
-UF1405, switch issue, did not work all the time
-Fandyfire Warrior, one of the E-switches had an issue, did not work all the time
-UF-T20, bought multiple since a local wanted lots of them modified. Several switch issues upon a arrival so I swapped switches in all lights.
Probably some more switch issues that I cant remember too. Most of these are easy to fix and not unusual issues on cheap lights. How many other things I have fixed or improved Im not able to keep track off. Lots of small stuff that could have lead to failures.
Premium lights
-Supbeam K50 - It can be discussed if the battery carrier got damaged due to a mod attempt or just a/the design fault. Either way, the electronics saw too much heat. The light still worked, but components inside the battery carrier did not look good. Even stock carriers can heat up to levels that I would not consider healthy. Most people will not know or notice though. But even on a bone stock light, these can heat up too much when used on highest turbo output with the right low voltage cells.
-Supbeam X60 - Periodically accidental strobe activation when used on high. Im pretty sure the reason behind this "fail" is because of the magnetic field for strobe is too close to the highest output setting. Margin of error/magnetic field seems too small.
Modified lights
-I had a de-domed XP-G2 fail in a UF-T20 that I modified last year. :_( First real fail in any light I have modified. Im not sure why the de-domed emitter failed. Never had that happen before and it had been working for a long time. Im a bit more careful with the de-domed emitters these days though. I also had a wire come off spring from a spring mod in another light.
Normally lights that I modify gets increased reliability. Potential faults and issues gets taken care of. Although, on a few lights I just use stock drivers pushed beyond the limits and cross my fingers. Example, stock UF1405 driver with over 250% increase in output. Im not going to claim increased driver reliability. :p I would not be that surprised if it failed in the long run despite surviving some reliability testing. But thanks to some fixes the light is now more reliable then when it was stock. I know which of my lights that might be living on the edge.
All issues/fails mentioned above are/were fixable though. Most quick, simple and super cheap fixes. Except the K50 issue, but that may not be considered a fail. I just don't like the issue. Not acceptable considering the price of the light.