A lot of great advice here, thanks.
I have found this thread very instructive and reassuring.
After being very active reading much that has been posted on the Forum during the past 3 years, I have taken steps to pretty much eliminate many of the pitfalls mentioned.
This includes having all track (main lines and sidings) powered by modern MTH Z4000 transformers with fast ac th ing circuit breakers; re-wiring the entire layout to greatly reduce the rat's nest of wires that previously existed and otherwise simplify, organize, color code and improve it; rarely disconnecting modern MTH and Lionel steam engines and tenders; and adding the correct amount of smoke fluid to all modern locomotives before starting them up. I also replaced my previous Atlas Connectors with Heavy Duty Atlas Connectors (better suited for O Gauge) that turns power on and off for my numerous sidings.
Doing the above has greatly reduced my need for repairs.