Typically if you replace an electrolytic that is polarized you should replace it with another polarized variant. Mylar and Mica's are not typically polarized. If the circuit depends on polarized parts, your best to replace them with polarized parts. Furthermore some older circuits were tuned taking into account the decay time of slower parts and the slack of the lower tolerance resistors. That said if you are experiencing actual improved results, more power to you. But you risk negative results as well. Analogue is an artform of wave shaping. If you make a change in an RC circuit for example, you can expect a significant difference. If that difference offers an improvement to the circuit as a whole, great. If it does not you will be scratching your head which is why I mention all of this.
If you are replacing electrolytics and must have a faster part, try replacing it with a 'FC' series capacitor (check digikey, panasonics are cheap.) They are very low ESR high frequency electrolytic caps and they come in polarized variant. If you are replacing a small value cap (10 uf or lower) look and the Dry tantalum capacitors as they are polarized and lightning fast. Changing emitter resistors will have negligable effect. However if you changed an RC circuit out with 1% resistors and tantalums you will have a much tighter performing portion of that circuit. So this really is all circuit dependant.
It really all depends on what your dealing with. Some people perform a whole slew of 'upgrades' and notice some benifit and attribute that to the upgrades as a whole when in reality perhaps only one or two parts made the difference and the rest were replaced with risk of negative effect and added cost. if you could post a schematic I could make some recomendatrions on your particular circuit.
On your originol question, technology advancements played a big role in the ever dissapearing metal case packages. They are still available, but as time goes on they will fade out of existance. They were a solution to heat dissapation in high power devices. The tab area of a transistor is designed to properly move heat away from the DIE. As parts become more efficient there is less and less need to dissapate heat from the DIE as fast as the old cans.
- Matt