i work at a dealer in mass...we had a 2001 s2k come in with a blown engine. the #4 cylinder had most of the aluminum head above it melt and flow right into the cylinder. the valves were all over the place, and the piston fused to the cylinder wall. it was fukked to all hell.
the guy beat the shit out of the car though, i know that...he came back a few months later with grinding 6th gear (of all gears, 6th!) and he regularly bought new tires cause his would get the outside tread torn to pieces.
even though is not a one time occurance, as i know it's come up before at other dealers too...it's definitely not common. don't panic or worry bout it. the s2k is still a great car and will go to its limits with no problem.