Hi DGray,
The piston/ball type is normally used in smaller sizes up to DN 50(NPS 2). These valves are more reliable when installed in horizontal piping, to minimizes the chance of the valve sticking open, since there is minimal piston friction.
For other type and basic design fundamental, there is a good reference courtesy of Geoffrey D. Stone in link as follow
Not really sure about others point of view, however I tend to believe that one cannot rely on check valve to perform both function as back flow preventer and block valve (Tight Shut Off class B). whenever possible there should be another block valve in between the compressor/pump/vessel and the check valve.
You mention about chatter, this is normally occurs when compressor/pump are in the early stage of start up, hence not full flow or as per check valve cracking pressure. Or someone select/design the incorrect cracking pressure or type of check valve or process condition is intermittent with respect to check valve opening and closing (thus slam).
In regards with your broad topic "valve failure", I write a simple blog for difference failure mode
excuse my english as I am not native and also not a blog writer. Open from others input shall I can share other topic within
Agree with gerhardl, a good whatever type valve can last its lifetime (25-30 years) without considerable failure that may threat Plant's process. To spot a bad design/selection/workmanship usually operator can tell within days/weeks/less than 1 year that the valve already show signs as bad actor e.g. chattering all the time, passing, etc.
Regards,
MR
All valves will last for years, except the ones that were poorly manufactured; are still wrongly operated and or were wrongly selected