Perfect Pass Throttle Failure

Two weekends ago we were coming to the end of a great day of wakeboarding. My oldest son was going to get two more pulls, then we would go in. However, when I pushed the throttle all the way forward to pull him up, it felt like the throttle cable let go. The handle would push forward all the way, but the engine just idled. It somewhat felt like the cable had come off the handle or the cable had broken. With the dealer service department on the cell phone, they had me check connections at the engine, but all seemed OK. Fortunately, the transmission cable worked fine, so with my son driving, I manually throttled at the carburetor so we could get back to the trailer. The dealer had his lake service tech meet us at the boat ramp and he decided that the part of the Perfect Pass that takes up the slack in the throttle cable had failed. The boat's been at the dealership waiting for the replacement part from Perfect Pass. I was told today that it finally came in and they should have it ready tomorrow. Has anyone else had their Perfect Pass fail in this way??? For approx. $1,200 I would have expected it to work without failure longer than the 3 months it has been installed. Are failures like this to be expected?? It sure was shocking at the time.