• WARNING: Tube/Valve amplifiers use potentially LETHAL HIGH VOLTAGES.
    Building, troubleshooting and testing of these amplifiers should only be
    performed by someone who is thoroughly familiar with
    the safety precautions around high voltages.

20-Year Old Tube Preamp -- Needs Recapped?

The power supply caps mighty be dried out by now. Use the same value and either the same or higher voltage. Film caps are most likely ok. If it has carbon comp resistors measure them as they absorb moisture and drift value. Don’t spray the pots unless a whole bunch of turns doesn’t clean them. Spray can destroy the element inside some pots and lots of older tube stuff had custom values no longer available. Look for burnt parts too. Good luck!
 
For the power rail caps, I would just make sure the value is not way off. I tend to keep them original.
For the dc blocking caps connected to tube grid. I would just replace all of them. I don't want to take the risk.
I would leave the rest of caps untouched, such as bypass caps of cathode bias resistor, and the cap on the negative feedback loop.