Many years ago when I was doing my apprenticeship in toolmaking, we learnt about creep in materials. (one of the few things that I have managed to vaguely reember)
Put basically it means that a material put under high stress over long periods can deform and actually grow. I just did a quick check (it was over thirty years ago I was taught about this) and it would apply to steel and you do not need to take the material past it's yield strength. It gets worse with heat (not really an issue with bike frames) but heat only accelerates the process.
Compairing bike parts with aircraft stuff is pointless. Aircraft stuff has a shelf life, they know when it will fail, and also why. Therefore they only use parts for a certain amount of time with a huge built in safety factor.