As another data point - My 67F was a hanger queen - had been sitting with relatively no yearly hours flown in the prior three years. Basically it was taken up yearly to warm the engine for the compression check during the annual. I bought it as a newly minted pilot with about 95 hours after talking with the Mechanic that had maintained it for the last 12 years prior to my purchase.
I paid 32K - it had 2234 air frame and 380ish SMOH
As soon as I bought it I chose to replace the tires. I had a leak in the left wing tank, I chose to repair the leaks
I chose to update one of the radios with a GNS430 and flew it for two years (about 250 hours)
I HAD to replace a transponder and a blind encoder when they went south. And I HAD to repair a VSI after the glass was broken (don't ask)
I Chose to replace the side windows, and I chose to modify the stock windshield with a 201 mod.
I Chose to have the interior replaced.
I continue to fly the plane without reservation and have gone from Texas to Oshkosh four times, from Texas to Gulf Shores twice. Out to New Orleans a couple times.
My owner assisted Annuals run less than 800. My insurance is running about 1k.
Clearly the things that I have chosen to update or replace far outweighs the cost if I were to have left it as is. And its hard to say if the radio I replaced would have hung in.
Interior was about 12k the radio and panel update was about 7.5K, The windows and windshield mod about 5K. I assisted in prepping the tank seal, so that was < 1K (and has been without issue since done.
Is my plane worth 55 to 60K - dunno - but I'm not selling it and if it were to bring less I would still be happy with my decisions as they brought comfort and joy when flying.
In my view - it's easy to get into replacing stuff because of what you may read from other owners, they may be relevant to their situation but may not apply in yours. Each item should be carefully examined and considered prior to doing it based on the opinion of a non mechanic.