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Some say they weren't built strong as it was built with the design of the bearings and seals, but there is a pretty good discussion about the midlands transmission in this NAM thread here.
Edit: this one HERE is a pretty lengthy thread on it as well.
They can fail, but it's actually pretty rare. If you don't hear any clicking sound as you drive the car, you should be okay, and although we haven't done it, Mr. ECS is right that bearing failures can be relatively easily repaired in those boxes.
If you can check the fill/drain plugs , and they are covered with metal fuzz then you have probable worn out bearings.
It is relatively inexpensive to recondition the box, new bearings/seals.
Figure on $450 if no other internal parts required.
My box had 90k on it, all gears/shafts/syncros were fine.
Jeff