Did the Old Receivers Sound Good?

Sherwoods were (and remain) sleepers.

Nostalgia plays a large role in the interest of vintage receivers not the sound quality since many are not audiophiles. If the vintage buyer was concerned about SQ they would purchase a Belles Aria(an example) over a 40+ year old Marantz, Pioneer or Sansui receiver. 

 i generally agree with @jsalerno277 above regarding  as the sonic character of vintage vs. modern receivers, although "good sounding" is of course a subjective quality and many find the older stuff to be musically pleasing notwithstanding the higher level of resolution of modern gear. i also find the older stuff to synergize better with speakers of the same era. however,  i do think the prices of vintage gear have gotten out of whack--even , even considering their aesthetic virtues there's no way i'd drop a grand on a mid-level 70's marantz or sansui.

I've owned Modern gear, Tube and Solid State. Vintage gear sound better once restored, not including receivers in the list. 

Owned a Marantz PM8006, Marantz 7T Marantz 16B blew it away. No comparison in detail, bass, musical enjoyment. I heard things in the recording completely masked by the Marantz PM8006 being $1500. Your looking at 8-10k for new gear to match at least. 

Now there is a Marantz PM7200 that does class A made in 2000's Cap upgrades and upgraded the power transformer to toroidal transformer. Very special amp! 

HK430 has amazing amplifier section, Add a tube preamp into HK430 with La Scala's. you would be in for a shock. :) 

the HK430 is one of the receivers that got blown away in direct comparison w the new little Marantz nr1200. it wasn't even close.  I was disappointed because although the HK looks way retro-cool, and it does sound good for a vintage, in honest listening it doesn't hold up to even modest moderns.