</font><font color="blue" class="small">( Does anyone have any info on slip clutch failures , as in locking up, and not slipping when needed? The main failure would be caused by not using the mower for a period of time and it rusts up and becomes locked up. )</font>
Unless the unit is stored in the rain and not used for long periods, I would think locking up is highly unlikely. Vibration from normal use will prevent the clutch halves from growing together. I get get micro-slippage on my RC clutch. I scratched a reference mark on it and every time I check it's moved a hair or 2. I haven't hit anything, it's probably just from normal vibration, starts, and mowing.
I think it's better for clutches to slip too much than not at all. Keep tabs on the clutch. Make a mark, and watch it for a month. If it doesn't move at all, maybe consider loosening the tension nuts 1/8 turn and watching the clutch for another month.