Old electrical can be perfectly safe, with an inspection protocol in place. The new stuff is generally cheaper, and will age also, perhaps faster. But Stab-Lok? That was never good. Dump it all, and fast.
Unfortunately, the “closet rule” makes that expensive. The above panel could not be replaced in place, no matter its condition, the urgency of the repair, or the suitability of the alternative location. I got a peek at the bid: $1800 per unit, plus materials, plus $951 in AHJ fees, most due to section 240.24(D) of the NEC®. The actual replacement electrical box at Home Depot is under $50, and without the closet rule it could have been replaced in place.
I agree with you on Stab-Lok. With FPE being a Newark, NJ company here in Northern NJ they were used in much of the residential construction in the 50’s, 60’s, and 70’s due to their low cost.
Back in the day I replaced dozens of those panels mostly due to recommendations from home inspection reports.
