I have never seen a home inspection report where a service up-grade or panel change was demanded just because the panel was old or for no reason. Maybe there is a 40 year old panel that you can't find a replacement cover for or a 60 amp fuse panel that won't meet FHA standards or a panel located inside the shower but there is normally a reason to change or move the panel other than just age.
I have had, let's say, less-than-stellar experiences with HI's as an electrician. Two in particular stand out in my memory. Both received glowing (pardon the pun) reports about the modern 200a breaker panel that was recently added.
Both were the results of illegal (i.e., non-permitted-or-inspected) service upgrades to accomodate what were likely-illegal central-HVAC installations. Both also had the tell-tale original meter base and 60/100a line-side service cables.
One of them originated as a POCO call, the result of which was a POCO disconnect because one line-side lug melted in the meter base. The young couple with a brand-new baby were without power in their very first home for 2 very warm days.
I pulled a permit as if I were doing the upgrade (which allowed the POCO to do their stuff free.) I had to install a 200a mter base, do about 4 hours of work in the panel (re-install cables
with clamps, grounding, and fix a few things on the HVAC install.
The young couple had to pay about the cost of the service upgrade themselves, even though they just bought a house with one, endure 3 summer days without their new HVAC system, and pay for a HI report that missed the most important stuff.
The second one resulted in a fire, which started in the EGC in the water-heater NM cable, which, by the way, was the only EGC in the house. Because of tree damage from a storm, the service neutral became energized. The #10 EGC couldn't carry 200a. Gee.
This new panel install had zero cable clamps and zero grounding of any kind, other than the water-heater EGC, and the plumbing system's copper piping. The sad thing was this one was a QO panel, which had to be replaced in its entirety as a new service again.
I got a copy of the fire report and made a report for them to present to their insurance company, and, I hope, the city to go after whoever did the panel and HVAC work, and the HI for missing this stuff. But, he caught the life-threatening "double tap." :roll:
So, no, I don't have a lot of sympathy for HI's. I've read af many instances where they don't disclose really inportant stuff, because they're afraid of getting sued by the seller for "interfering" with the sale. That's their job!