Yep, I mentioned some high-end equipment from the eighties, hence my point that the fact that it was high end or cheap junk is more important than age. Many of the old high-end stuff is better than current low-end stuff. There are some examples were newer technology has made it possible for cheap equipment to surpass old high-end stuff, eg. anything related to computers, but in many cases not. General test equipment has been quite mature and usable for many years, so unless you need something specific like a protocol analyzer for a modern protocol, old stuff is often just as good. For example, what was improved to multimeters in the last 20-25 years? When comparing similar market segments, accuracy has improved, speed has improved (for system DMM's), storage and math features have improved, extra features like capacitance tests have appeared and some shiny stuff like wireless (Fluke 233) or trend graph (Fluke 289). But the old stuff was quite good for the essential voltage/resistance/current stuff. If you compare them at the current market prices, you can probably get a mid-end 5.5 digit bench meter (equivalent model today costs $700 or so) for $100, or a mid-end 3.5 digit hand-held DMM. You can argue about bench vs. hand-held and a few good functions vs. jack of all trades that will do capacitors, inductors, transistors and capacitance, but it's hard to claim that the $100 Extech/Amprobe is clearly superior to that Fluke/HP/Keithley meter. Same for a $400 Rigol scope vs. a $400 Tektronix 7000 system or 24xx analog scope. The Rigol is digital and has more automated measurements and storage, but the analog scopes have more bandwidth and more features (eg. triggering), and a much faster update rate.
Improvements have mainly been large LCD displays, USB control, buttons instead of knobs (although you can argue if this is an improvement). Of course performance on the top-end has been improved, but the current top-end is rarely an option on a hobby budget.
I've seen plenty of (high quality) equipment that wasn't calibrated for many years still meet its factory specs.