The Megajolt (and Megasquirt/Microsquirt, for full control of ignition/injection) are pretty well debugged hardware/software (running on thousands of vehicles), but you still have to tune them. Lynn's drawing is about as no compromise simple/reliable as it can get. The pickups and coil drivers have had bugs beaten out of them running on millions of vehicles. Similar setups have been run on Lycs (usually using GM drivers) in a/c for decades. The only downsides I see to Lynn's setup is lack of redundancy across both rotors, and inability to advance the timing at altitude/lower power for fuel economy. Loss of one rotor means way less than 50% power & potential for really violent torsional issues. Even if nothing breaks, you're coming down fairly soon, unless it's a design that will fly on a very small percentage of rated power.
Charlie