I've had this happen to my 4.0. I guess I'm one of the lucky few. I'd never heard of it happening before, so at first I thought it was going to be bad but it was a pretty simple repair.
I was driving my 67 Nova on a downhill grade and heard a noise looked left and saw my harmonic balancer passing me. I ended up pulling over and parking, then walked down the hill and lucky the balancer stopped about a foot from dropping into a large storm drain opening.