The study showed that many of the conductors had deteriorated, though. Electrical resistances were about twice what is allowed for that grade of wire. And every single breaker failed to trip when tested. Those are issues, too.
There were many age-related things due to evolving codes and standards, as well. Things like having a single 15A non-GFCI receptacle in a kitchen would send an inspector into a fury, but there are thousands of people out there who live like that, and it's dangerous. The law might not require them to upgrade, but their homeowner's insurance company sure takes it into account.
