I'm coming in a bit late to this discussion, but I might just point to the notes I wrote on mast sizing
here. I used these principles in the design of Tystie's mast, and 75,000 miles on, I've no cause for concern.
Aluminium alloy does have a finite fatigue life, there's no getting away from it. So you have to design your mast so that the life is long enough, which to me means as long as my life, or the life of my boat. The less the stress, the longer the life. That means, in practice, the larger the diameter, the thicker the wall, and the fewer the flaws and holes in the mast (which are "stress-raisers"), the longer the life. There's nothing novel about living with this notion. Aircraft design is based on the principle of calculating, or establishing by testing, the fatigue life of a component, and then writing into the manual for maintaining the aircraft when that component is to be replaced, well ahead of the final fatigue life. We can't do that, with limited resources, so we must be very conservative in our designs.
The plain, blunt truth is that the Sunbird 32 foremast is subjected to too high a level of stress for too long, whilst sailing. The fact that Lexia's foremast stood for so long only suggests to me that in her previous ownership, she was not sailed very hard, or for very long.