Sometime after I freshened up my engine back in '03 I had the car running in the garage and all of a sudden it just died and would not restart. After some investigation I decided to pull the fuel pump and, of course, the rod came out as well. Imagine my surprise to find nearly 2 tenths of the end just GONE! I immediately drained the oil and found metallic shavings in the oil! The pump rod end riding on the cam just disintegrated. As far as I know it was the original fuel pump rod. Getting the shavings out was no fun, either, as I had to drop the pan and flush the system.
I ordered a new magnetic drain plug from Hughes Engines to catch any stry particles (boy did it ever work!) along with one of their hardened fuel pump rods. i had heard some time ago that the MP fuel pump rods are soft and will do just what mine did. I had ordered an MP unit while the car was apart but never installed it because when I took a close look at it there was a sharp little nipple on the end where the rod was cut off. Talk about quality workmanship! (or the total lack thereof).
I've had no issues with the hardened pump rod from Hughes. If you are going to stay with a mechanical fuel pump I highly recommend you get one.