I have to agree with Joe.
Although there is an element of risk of losing a warbird through accident, this is no higher, and probably a lot lower, than losing a 'modern' display aircraft which regularly participates in the air show 'circuit'. These risks are minimal, and although I'd hate to see a valuable, rare aircraft lost, I'd rather accept that minimal risk, and see it flying, than sitting leaking oil and slowly corroding on static display. There are, of course, some exceptions, where the type might be the only example left, and lack of spares and support may prevent it from flying, even if it was potentially airworthy. The RAFM Me410 and Ju87 are such examples, and I fully understand why they are on static display only.
But, the majority of airworthy warbirds today are not in that category and should, if possible, be maintained in an airworthy state, and flown whenever possible. Certainly those warbirds which fly regularly in the UK are in the hands of very experienced pilots or aircrew, many of them serving or ex forces pilots, and are tended by highly-qualified, experienced and dedicated ground/servicing teams, operating within extremely stringent rules and guidelines, both official (CAA) and of their own making. In general terms, the aircraft are limited to the amount of flying hours permitted per year, and operate (on displays) well within acceptable parameters of performance, handling and weather conditions, to ensure the minimum of stress to both airframe and engine, 'stress' which is much, much lower than the aircraft type(s) were designed for. Added to this is the fact that most, if not all of these 'vintage' aircraft have been virtually re-built to standards and tolerances far higher than the original design specs. The BBMF Lancaster, for example, was not only totally stripped, examined and re-built as required recently ( a deep service it undergoes around every 8 years), but was re-sparred - the only Lancaster ever to have such work carried out - in order to ensure not only absolute safety and integrity, but to prolong its active life for at least another 50 years.
There are many, many airliners in general service today that are, in aviation terms, old, and getting worn out and, when compared to the average family car would be regarded as totally 'past it', and I wouldn't even consider getting on board. Compare these frequently used, passenger carrying aircraft to the average warbird, and I know which one I would rather fly in !