High mileage car engine failures?

[78F350]

Reading through recent threads made me wonder...
I really don't often hear of Boxsters with 150,000+ miles having catastrophic engine failures. It's the '00 - '04 with low miles that seem to post about it most often. Maybe because it's expected in a higher mile engine.
With the advice I've seen about buying the newest, lowest mile 986 (still 12+ year old) I wonder if one with 150,000 miles that has seen good care and replacement of wear items is actually a better car than a garage queen with 50,000 and all original parts.
From what I see, these engines do best when driven and driving adds up the miles.
Does anyone want to post actual experience one way or the other?

Edit: My mileage numbers are arbitrary. My intent is generally high mile/daily driver vs low mile/fair weather weekender.