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Does this mean that a 10^13 reliability has 320% chance of failure?

320% would mean you find 3 wrong bits each time you read the disk.

I was calculating the expected number of wrong bits per full read of the drive.

You calculated the chance of a perfect read which is similar but not the same.

Ah, I see. Could you edit your post to reflect this? As it stands it is very easy to misinterpret.

You can only edit for a little over an hour, and it's been three.

I thought "of one bit being wrong" said it, but I can see how you misread it. Hopefully people will read the thread and see these replies as well.