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I only work on equipment that I own, as I do not have time for anything else. However, even with my equipment, I take Andy's and ChuckA's approach on any equipment made prior to 1960. Replace all paper and electrolytic caps!
I once left a paper cap in an TV agc circuit that had all of 4 volts on it. The TV it was in began to overload as if the AGC was not working properly. Guess what-it was that cap. I have also tried "Reforming" electronics as some have recommended only to have to replace them in a short time due to re-appearing power supply filtering hum, etc.
Trying to a few dollars by leaving old paper or electrolytic capacitors in place is not worth the hassle.
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