What kills electrolytics is age and temperature, specially temperature, caps are rated at a certain number of hours at certain temperature, for example 1000hrs@85°C, which means that if you have the caps work at 85°C they will last 1000 hrs, as you reduce the temperature the lifespan dramatically increases. Consoles are noted for killing caps since many of them run pretty hot, my MCI JH528 is one dramatic example, the damn thing is a heat radiator, it eats up caps in no time, an off the shelf 85°C cap would not last more than say 6-8 years in those conditions, which is why I used 105°C caps, which will last much longer.
For switching PSUs, capacitor ESR is an important factor (not really important for audio thou) due to the high switching frequencies at which SMPS work, high ESR makes the caps heat up (again, temperature is the problem). Most problems with SMPS are usually worn out capacitors, specially because manufacturers rarely use high quality caps, even the big name brands use generic chinese caps with low ESR, they don't design for longevity that is for sure, my 12 year old plasma TV has problems turning on, I am 99% sure the caps are the problem, I am just too lazy to open it up and change them.
In some audio equipment ESR testers are not the way to go, leakage testers are much better in that regard, for example, specially in old tube equipment, many caps can measure ok in capacitance and the ESR might not be that bad, considering that back in the day capacitors didn't have very low ESR to begin with, but when applied with the full working voltage they leak and create all kinds of havoc, like changing the bias point of tube gear, even tiny ammounts of leakage current can be extremely problematic (for example if you have a 1Meg resistor and a cap leaks into it 10uA, the difference will be 10V, which can dramatically change the bias point) and its difficult to diagnose, old electolytics and paper caps are notorious for this behaviour. In those cases I just replace all electrolytics with new ones and paper caps with polys, I don't even test them anymore to see if they are good or bad, I just test the old Mica caps which might be ok.
If the equipment runs cold, even if its old the caps might be ok, but my philosophy is, if its 20-25 years old or older, just replace the caps, and if it is old and runs hot, even more so.