austtr - 4:57 am on Nov 21, 2013 (gmt 0)
whether this more affects the sites that "have not moved with the time" and remained unchanged for years
No... I don't think it is that simple. It would be very unusual for a serious site, one that was capable to ranking highly "back in the day", to remain totally unchanged over a period of many years. New pages added, old pages taken down, CSS functions came into vogue, tabled layouts fell from favour, CMS arrived, rel="nofollow" is now in effect.
Web owners/managers in here are not the type of people who leave quality sites unchanged year after year.
if the only thing that propped the site before was old IBL using old style link buildings
If by "old style link building" you are referring to all the assorted spam signature links, poor quality directory listings, link farms etc.... Google was telling us years before Penguin that they were on top of all that crap.
The concept of freely given links being the best type of IBL has been around since Adam was a boy.... it's not new and in most cases an old site will actually have more of these simply because it has been around that much longer to accumulate them.
how an old site would fire if it was completely redeveloped and maybe the old URLs with old IBLs just let go 404
That would be giant leap of faith that effectively says you are going to scrap everything except the content and start again from scratch.... maybe salvage a few links to kick-start the new site. Speaking for myself, that would involve a commitment to time, effort and expense that I am just not willing to make.... I don't trust Google enough anymore to do something like that.
I am wondering has anybody tried this and what were the results
Ditto from me as well.