That is also my general expirience with refurbishment I have done for many older equipment and as you say one needs to investigate if replacements are required.
Lately I bought an YAMAHA B-2 amplifier and a YAMAHA C-2 preamplifier. Both were not working properly and the main issue have been switch contact problems.
When I measured the YAMAHA C-2 preamplifier at the condition in which I got it, a spectrum analysis as follows showed up.
View attachment 532423
When I saw that I tought a whole of recaps will be necessary. Anyhow I started cleaning the switch contacts first and got afterwards this result.
View attachment 532424
All noise below 1kHz was gone !!! Seeing that saved me a lot of soldering recap work ...
By the way, after fixing the switch contacts I got this frequency response.
View attachment 532425
None of the measurements after cleaning the switch contact indicated that any recap may have been necessary.
In all cases I measured both channels, red = right, blue = left.
It is an absolute great gear and that being over 50 years old ...