But the tensile strength of SS wire is several thousand pounds. Likely, the stanchions will bend before the wire will snap. So the SS wire was never really the weak link in the lifeline system (assuming the wire is in good condition).
There were several (mildly) bent stanchions on either side of our boat when we purchased it. The lifeline wires were stained with rust on the ends and everywhere there was a nick in the vinyl. The OEM closed barrel turn buckles were frozen. However, nothing had ever broken.
After replacing the whole lifeline system with uncoated wire and new open turnbuckles, I later did a major upgrade to all (Straightened!) stanchions with oversized G10 plates underneath each one, set in epoxy mush. Then added braces to all the midship stanchions and double-braced the gate stanchions.
I would recommend doing this to any boat. not just boats built by Ericson.
However, I have seen an actual break in a shroud wire, from stress corrosion. So, putting off lifeline/standing rig replacements (especially in salt water) is a really bad idea.