Is this True about converters??

Just becasue the convertor doesn't fail or break doesn't mean it is efficient or works well.

If when you order a converter you BS the supplier about the amount of HP or torque you've got, no converter will be efficient or work well. Don't tell the supplier that you've got 500HP and 450 lbs. of torque unless you've had the engine on a dyno. Misinformation given will result in the wrong converter for an application and as you say, will not be efficient or work properly.