Apart from the specific merits or faults of FPE panels, we've been at this issue long enough for another element to enter discussions: design life.
Everything has a 'design life.' It's interesting when you read various engineering papers; it seems that for electrical design a 'life' of less than 30 years is assumed. That is, even the best gear isn't imagined to be in service much more than that.
As you might guess, this assumption contributes to every design decision that follows: how much zinc to plate the steel with, how heavy the steel needs to be, what plastics to use, etc. The assumption influences quality control tests; do you want that switch to survive 10,000 or 10,000,000 operations?
It's amazing how everyone clams up on this topic. Even makers of 'premium' products are mum. This surprises me; you would think some slaes force out there would be claiming 'ours is designed to last twice as long as theirs.'
What I'm getting at is this: everything in the house you grew up in has surpassed it's "design life." Even if that panel is Square D, Cutler-Hammer, (insert name of panel you like here), it wasn't expected to last this long. You really want to get down to it, all of these panels "ought" to be replaced.
With FPE and Zinsco, it's an easy call to make; they stopped making them that long ago. Yet, a 50 yr. old Siemans looks a lot like a brand new one - so it's harder to tell the age.
Another thing that surprises me is that, considering all of the FPE and Zinsco panels out there, that no one has seen fir to make replacement panel "guts" that drop in place, and let you connect to the existing wiring. I don't know about you, but I love the idea of a 30-minute swap-out. Instead, I can't even get replacement GE guts for a GE panel! (Or, for that matter, help identifying the current, similar model of panel).