depends on the design of the mod and software in the chip. some of the boards are specifically designed for a one button system and they actually have to redesign the boards if they want that same chip in a multi button design.
as for wear or failure? this is going to be roughly associated with the build quality of the switch, contacts, and board. an example is my vamo is fully mechanical switches, they are clicky and solid. and they are slowly becoming fussy and sometimes need a second press that is more solid. whereas the provari uses a military design pure electronic switch, there is nothing moving and no parts to really wear out. the cheaper the mod the cheaper the parts used to produce it are going to be.
paying 20 bucks for all those electronics I wouldnt hold my breath the switch will last 5 years.
cant say i prefer either from a function standpoint, if the software is designed correctly the most common functions are just a few clicks away, cant really say its going to give me stress to press a button 2 more times.