My experience would suggest that spare pumps are often less reliable that the main pump that runs all time. Since most of the failures that I see are not wear-out failures, other mechanisms are more important. Specifically in hot, heavy products, there are a number of potential issues that result in higher failure rates among the spares. First, if the product can thicken up or set up between the seal faces, then failure can result on start-up. It can be tricky to keep the product hot enough to stay fluid but not so hot that it cracks and cokes. Services like coker charge have this problem especially. Our standby coker charge pumps are all turbine driven and we have them keep those turbines on slow roll. This keeps the product in the pump moving so it doesn't set up. It keeps the fluid between the seal faces moving so they don't set up or coke up as badly. Slow rolling is not good for the turbine (in general) but we do it for the sake of the pump and mechanical seal. Standby pumps in asphalt service are tricky in this regard, too. Offsites pumps at storage tanks set idle for much of the time but have to run on occasion to transfer product. In order to keep the pumps and seals hot, we use steam tracing, steam jacketing and steam quenches. These seals have jackets built into the seal glands. Steam is passed through the jackets and then is injected on the atmosphere side of the seal as a quench. This keeps the asphalt from setting up between the faces when the pump is idle and helps prevent coking on the ID of the seal faces when the pump is running. The rest of the pump case is also jacketed, then wrapped in steam tracing and insulated to keep it hot.
If a pump sits idle and never runs for a long period of time is likely to be among the least reliable pumps in the plant. A pump that runs continuously at a good operation point, with good lubrication and seal support piping is likely to be among the most reliable pumps in the plant. We run our spares to check them for problems (performance or vibration) and to keep them reliable (circulate the oil, rotate ball bearings to discourage false brinnelling, etc.).