But no one has mentioned that the gascolator can also increase risks. The system with a gascolator has one additional hose, two additional fittings, two additional gaskets, and a drain valve. All of those are potential failure points that could increase risk rather than reduce it. A leaky gasket can cause the engine-driven pump to suck air into the system resulting in fuel starvation. The same for an inadvertent drain opening. 

I don't have the numbers or data to support one side of the argument over the other. Anecdotally, I do know pilots that have had fuel system failures in flight that were caused by those last two gascolator defects. 

-bob mackey