,...............it could be replaced for under $300. I believe I spoke to 007, who told me that they use them where he works, and they work great. Sounded like good advice to me along with the endorsement of someone who's opinion I value.
I now have a 12,000# winch (I know, over kill on a CJ) and love it. I figured that the cheap ones probably don't pull as hard as they are rated, so maybe in reality it's an 8,000#, but it works fine.
with no parts support.
I read something awhile back on winches that made a lot of sense to me. The poster wrote that after loosing 2 Warn winches to theft, he went and purchased a Badland winch from Harbor Freight for a fraction of the cost, with the theory that if someone, shall we say,..........acquired it without his permission
He also oversees the production of these winches. For the money and for part-time use, seems like a good deal to me. But, if you got the extra money go big or go home. 
Did some research on the Badlands Winch sold at Harbor Freight and looks like its junk here is a research test they did on multiple winches and the one from Harbor Freight failed miserably.The "cheep" Badlands winch was designed by a Warn engineer.
You definitely get what you pay for. In my case, it works fine for the demands I have put on it so far. If you are a hard core off roader going through deep mud and water, I would not recommend this winch. I knew about the water "allergies" this winch displays, but that is not my kind of wheeling. But just because one magazine got one that did not work right out of the box, does not constitute failing miserably. I have purchased name brand parts that did not work right out of the box.
I've pulled many items out of a box that either didn't work, or were missing parts. To be fair they should have gotten another winch and tested it. 
AS FOR THE WATER SUBMERSION TEST, I would never do that to a winch. 
Trying to assert that this resembles a winch getting wet is ridicules. I currently have a Warn winch that sat on my car hauler trailer. Got used maybe three times. Now it doesn't work at all. 
So should I say ALL warn winches will give up over a long period of time, NO. Any mechanical device will fail given the right circumstance. 
Luckily I bought it in 2005 and didn't pay an arm and a leg for it. Since I don't winch on a weekly bases, just like kaotik1 mentioned. So my next winch will be a Badlands, based on use and price, unless I get the Warn working again. Just my 2 cents. Same with a hydraulic winch (which is what I considered before the 8274 found me).
