What are the few observable parameters that can lead to a blown engine?

Overheating = water temp gauge
Overheating = oil temp gauge


Presuming that the stock gauges work (boost & oil press) and are accurate, I would presume that oil & water temp are the two other important things that have to be monitored.

is this correct? Any other gauges needed?

 

Guage's don't stop the engine from blowing, the driver does, seeing as how he is in control (for the most part).

But all you need is the stock gauges, and they will give you a good round about idea of were everything is at. All you have to do is use common sense. But if you want it to be really accurate, then you could buy new gauges.

 

Yea I didn't word it very well, I know gauges wont' stop the engine from blowing but it would give me a good idea IF I am going to blow (eg. crazy high water/oil temps)

Reason for me choosing water & oil temp is because:
1) our car's dont have oil TEMP
2) factory water temp isn't accurate enough

 

A couple of the best gauge's you could get are air/fuel ratio, and EGT. Because running a rotary lean is one of the worst things you can do to it, and those guages would tell you if it is running rich/lean.

 

Well my opinion is to monitor parts of the engine you know are impotant like the water temp, boost level, exaust temp, oil pressure, oil temp, fuel pressure perhaps. Air intake temp would be good to know when climates start to get colder. Having a way to control the amount of fuel going into the engine is extremly important too, which would involve having a fuel controller or perhaps a standalone ECU.
Then if you start seeing these numbers get high while you have the capability to monitor these parts of the engine you'll have to start modding your car or adjusting it to compensate.

 

Wideband O2 > EGT > A/F running off normal O2 sensor.