Bill,
At Cambridge we do not run an on call system. We have an equipment library that is open for 12hrs a day Mon-Fri and 8hrs on a Saturday. We do have a comprehensive amount of spare equipment to cover equipment failures.
From my personal experience most of the 'faults' staff find over long weekends can be sorted out quickly by competently trained medical staff on the wards. With ventilators and such performing the pre-use checks properly does clear most of these up. Uptime of most modern medical equipment is very good.
We do also get departments asking us to work weekends/nights to cover there equipment, making it easier for them, but we point out that they are but one area we have to cover and while it may work for them it doesn't work for every department and user within the hospital.