If his engine quit at altitude I have no doubt Fossett's experience and skill would find a place to set it down. Then he could/would have manually triggered the ELT and waited for rescue -- no ELT. This is where he kicks himself for leaving that Sat-phone behind.

Sometimes experience and skill are outvoted by over-confidence. If something went wrong at low altitude Fossett may have found himself behind the power curve and he may not have been able to recover. Things happen fast and there's not much time to fix a problem. Even a low speed accident can be fatal.

If he's still in the plane, it's hot and he hasn't had a drink since Monday. I just hope the aircraft stayed intact and is not so obscured that it can't be found before he dies of exposure.