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Worst I had happen as a result of power failure was that disk the 
journal couldn't recover everything required, such that sector errors
were reported on every boot.  A reformat got around that.  Tiresome, but
not fatal.
My worst, was kind of "mild", though scary:  I had to rebuild /boot (on ext2), because the last action was placing a copy of the Linux Kernel on /boot. 
(Scary, because it wouldn't, even *start* to Boot). 
Thank Goodness, for "Live Rescue Systems"! 
Kenneth Parker