bottom line, if you want more precise control and a higher speed, then a sensored motor is the best route to go. If you want a less expensive motor, then a sensorless motor is the way to go. When it comes to reliability, 99.9% of the time, a sensor cable will go bad due to not unplugging it properly. I know this because I don't know anyone who plugs and unplugs a sensor cable more than I do, and I do it dozens of times before the cable goes bad. If you are worried about a motor being over worked with a sensor cable connected, make sure you don't turn your timing up past 40* and keep your motor temps under 120*. If the temps get too high, back off on the timing until you get the right temp. I have a sensored motor that is over 3 years old. I slapped in a new $35 rotor and it's back to performing almost like new.

Trust me, even if you're just bashing around a lot, a sensorless motor can be very glitchy when you're on and off the throttle or at low speeds. When your car is not running smooth, it can kill the fun.