Absolutely nothing has gone wrong. It could have, if not for my pride of ownership and frequent fluid changes. If this car was assembled in Oshawa Ontario Canada, & has been respected, it is bullet proof.
90% of friction wear in the engine will occur on a cold start. If you simply wait until the car is at operating temperature before you start revving it, it is unstoppable. The main mistake people make is revving the cold engine. GM designed the piston heads to be slightly smaller diameter than the inside diameter of the piston, to reduce the friction during a start, then as it warms, it slowly expands to the perfect diameter. If you rev the engine when the piston diameter was at its smallest, it bounces along the sides of the cylinder and scores it, reducing compression.
Also, the lifters are hollow and take a while to fill up with oil; that's why it taps when it's cold; all the oil has drained from the lifters into the oil reservoir, so another good thing is to let it sit at a cold start until it reaches operating temperature, and the oil pump distributes oil to the lifters before you start revving it and wearing it when the engine isn't ready.
It's a simple science, but people don't necessarily think things through these days it seems. They never change the fluids, and run the crap out of it when it's not at operating temperature, and they blame GM. It's an economy car, it will last forever if the owner has a clue what is happening. Just let it run 3 minutes at idle if it's been sitting for hours; it's that simple, and makes a world of difference in performance and durability.