With all due respect, it is not absolutely true that newer is "better" than older. Sometimes the construction standards in the past was a "lost art" and was more detailed and better than today's standards.
For audio equipment, especially solid state, it is true that the newer devices are more linear and have better power bandwidth than older devices. This is why I upgrade older transistors to newer/modern transistors when I either repair or upgrade units. They has the same basic specs, (hfe, power, voltage, etc.) but they are more linear and better devices.
However, in audio, the only real way you can tell if a newer piece is "better" than the older stuff is to do a direct A/B comparison in the same system at the same time. Changing absolutely nothing but the device. Some older equipment is not equipped with balanced connections and therefore, you may have to add some special cabling or transformers to compensate for this test. But, that should be the only things changed.
Then, as I tell others when comparing equipment in your home. play a favorite song first. use a DB gauge and find out the listening level from the gauge. Then put a white noise test cd or album on and use the DB gauge to see what that listening level was. Then switch out the one device for the other, put the white noise cd/album back on and adjust the volume to match what you were hearing with the other device. Then, listen critically.
Many times, people perceive "better" when it is really just a volume/gain difference that emphasizes treble or base, etc. But when you match gains/volume, that artificial perceived difference goes away and you get to really hear the two devices fairly.
anyway, just my take.
Also, another issue I have seen is people discuss fuses, cables, power cords, and other side equipment. while I have no problem with this discussion, Let me just say that anything that the electrical signal has to go through will definitely impact that signal. However, if the designer did their job correctly, then they are basing their design on the design of their electronics and the sound of their device, using the electronics that they installed and tested when voicing their device. That includes, power cords, fuses, etc. If, when you demo'd the equipment in the store, a friends home or your home and you were happy with that sound, then that is what the designer intended. That is the sound they designed for. Yes, you can make things "better" by way of better internal cabling, better power cords, better fuses, etc. But, it sounded wonderful when you bought it. this is why I don't play much with fuses, power cords, etc.
interconnect cables and speaker cables can make a dramatic difference. but, you can get seriously carried away with that also. I agree with WC. I am absolutely not going to spend a ridiculous amount on cables. but, my definition of "ridiculous" isn't the same as some others. Can I get it better? absolutely. But, at what point does one sit back, with a good glass of wine and just enjoy the music? Don't get me wrong. If their is something missing or a situation that drives me out of the room after awhile, then I need to address that. I will say that my room has had more impact than I previously thought. But, that is another discussion.
I'm enjoying this post and the intelligent discussions.
Keep it up.
enjoy