I'm the first one to admit that I don't have the background (having flown none of the aircraft involved in this debate) to introduce new facts. However, let's take a look at what the changes in turbine powerplant reliability have done to "you need 2(or 3 or 4) engines to go here".
In the bad old days, a long commercial over-ocean flight called for four engines. The frequency of problems meant that "common sense" dictated that any less was foolhardy. Today, take a look at the 777. By switching from four smaller engines to two larger ones, you decrease your fuel burn. I don't think that there's anyone here that would contend that using a 777 on a trans-Atlantic route is foolish (unless they're an Airbus fan, but that's another issue

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Another instance is the US navy. Ever since it became a feasible option from an engineering point of view, the USN has insisted that every single aircraft that they operate off of their carriers be powered by more than one engine. Until now. The USN's new F-23 will be a single-engined aircraft - they've decided that the reliability of the new engine is acceptable. Granted, this decision was driven by the combination of defense acquisition cost cutting and the performance advantages inherent in one larger engine over two smaller ones...but the fact remains that even institutions with deep-seated resistance to a single-engined concept are making the change.
I'm not suggesting that anything with more than one engine is a dinosaur - far from it. I'm simply saying that we're doing ourselves a disservice by automatically seeing fewer engines as a shortcoming in an aircraft.
Any aircraft has a set of conditions that will overcome it's engineered safeguards and capabilities. Pile enough ice onto an airframe, and a heavily loaded twin with one engine out is going to have a very limited set of options...just like a PC-12 will with it's engine out.
Part of being in an industry that relies upon mechanical devices (be they simple or complex) is the need for the people that operate those devices to keep up with the changes that advancing technology brings about. We shouldn't automatically embrace each change as it pops up, and immediately discard all of the standards and exepctations that have served us well in the past...but we also shouldn't turn our back on advancement. Perhaps the PC-12 hasn't logged enough hours in the air for an apples-to-apples comparison of accident rates...but if it's not used for SEIFR, what are the odds of it ever accumulating enough hours?
Fundamentally, we need to look at the aircraft as a whole, as opposed to a powerplant. If the other qualities of the PC12 keep it safer that a twin in certain circumstances, then that needs to be taken into account in any decisions that are being made. Don't ask "What happens when event X occurs" - ask instead about the entire package. Take a long hard look at the chances of a serious incident occuring during a flight of that aircraft, and compare those chance with the other aircraft that might fly that same route. That's when you'll get an accurate look at all the factors that should be influencing your decision.