On the first gen engine, it is DEFINITELY the injection pump. Once you see how incredibly busy that thing is inside, and how fast the parts have to move and just how delicate a lot of them look... Yeah, it's NO CONTEST. At 2500 rpm, the pumping plunger makes 7500 strokes per minute. it moves about 3/8's of an inch and is returned, to the valley of the cam plate by springs. And, for those of us with insane thoughts (like me), it goes even faster...
Later engines, it's the injectors. They suffer through the absolute worst stresses and strains and they are very small and delicate.
My apologies to Joe Donnelly, but the rod and piston are stressed to be strong enough to do what they do without fail. They are big and beefy, and all of us know that broken rods, pistons, or broken cranks are very, very rare.
Failed injectors happen far more often.