Its a mith this chain super reliabilty thing, there not, they streth and wear (as you would expect).
I ahev known quite a few of the 6 cylidner diseasels to suffer chain problems, on these the tensioner normlay wears and the pump umps a tooth.
And the driver behind over head cam, performance.
To get good high rev ability you need to be able to have a controlled valve opening AND closing.....and by having an over head cam you have a light valve train which gives you this.
Compare this to a puch rod where you have possibly a hydraulic follower (although some dont), push rod, rocker, valve....to get good high rev ability you end up fitting big valve springs to shut the valves fast and all because you have a large mass of valve train to move!
Now, thats a very small reason why!
My personal preference is for a belt as they are quiet and because you service them regulalry, they are a known item where as chains are very much unknown....
Gm however, are moving there engines back to chain setups....