FE's tend to get a bad rep for blowing up primarily because they are often run hard, REAL hard, without mercy. They are in fact a surprisingly robust engine when built right, not just with near stock parts, but machined and assembled right!!! When done correctly, you can run the piss out of them and they WILL hold together.
I know, I've got all original parts in mine, some of the good stuff, and I've punished the heck out of that motor and it's rock solid reliable. What DID give out on it a few years ago was the MODERN solid roller camshaft. I went back to a flat tappet, like the FE gods and your Dad intended it should have!