A complete reg failure is rare to say the least. Most systems now have a LP burst disk, so if the pressure spikes about 1800 pis (the max pressure for co2) the disk blows, and dumps the pressure.
SS hose should be rated to at least 3K. The problem with remotes is that most of the new ones are coiled, and some were made using a lower rated hose. Just look on the side of the hose before you buy it, the rating will be on there.
I have been playing for almost 10 years, and I have only seen one reg completely fail, and that was a design error (that has since been fixed, so the maker isn't important), and not a normal wear and tear issue. In that case, the o-rings on his QD tore, and vented the pressure. Nothing blew up, no one was hurt, just scared the hell out of him.