In your experience, do such modifications lead to noticeable improvements in sound quality, or do they risk altering the original design in ways that might not be beneficial?
To answer the question.... It can, and It can. Different components and manufacturers can have a different sound. I've messed around with many different pieces of equipment over the years.
For example. I have an older Dared MC-7P preamp that I picked up at a yard sale a few years ago. This is a Chinese tube unit that sold for around $800 new 15 years ago. It came with some crappy capacitors in it. I replaced them with Mundorf and Clarity caps. Oh, what a positive difference it made.
Then I had a Classe Model 70 amp that sounded very nice. Smooth, warm, good resolution, but a bit soft in the upper treble. Someone recommended that I replace the several of the electrolytic caps with foil and teflon caps. As it was already showing it's age, I went ahead and recapped the amp. It went to hell. Bass got muddy and the treble went from soft to agonizingly bright.
So, the lesson I learned is that audio engineers sometimes make choices for specific reasons. Sometimes it is for manufacturing issues or costs, sometimes for managing the sound or voice of the equipment.
Do your research, ask questions, take pictures and document your changes, in case you have to reverse what you did. Don't be afraid of contacting the manufacturer and ask questions. You will be suprised at what they may tell you to go ahead and do (or not do.) Designer Nelson Pass is famous recommending upgrades to his older designs. Same with Steve McCormack and the guys at Conrad Johnson.
And make sure you are making modifications for the right reasons. Are you doing it because you want to have fun and enjoy the hobby? Are you making a repair and it is an opportunity to possibly improve a short coming? Are you dissatified with the piece of equipment? [Would it be cheaper to sell the gear and invest the money (including what you might spend on parts and labor) into something better. Can you afford to write off the investment in the equipment you are modifying? (Somethimes it can be real hard to sell modified equipment.)]
Just my 2 cents... wait, better make that a nickel since they want to stop making pennies, lol.
- Jeff