I bought a Loncin powered engine around 12months ago.
It's been given a lot of abuse and worked very hard and it still started great with zero problem. They are a good engine but it will never be a Honda.
The 2 year warranty on the engine is great but you would also have to ship it to Ireland which would be a pita. I also did at the time of buying and still do now worry about the engine dying and tool shops/hire shops refusing to look at it because of it not being big name like Honda, yanmar, b&s etc
Ian