Monitor Life Expectancy

Good question, I suppose if you use them all of the time then periodically when you can hear their performance is deteriorating.
 

Like a fine wine, I say...better with age.  If they're taken care of, they should last well past 5-10 years although it would depend on the quality of the product as well.
 
I've had my passive Event 20/20's for nearly 20 years.  Been tempted to go powered but why....they sound great!  I had a set of JBL L20's (albeit home component speakers) for nearly 30+ years and I loved them like the day I bought them.  Did have to replace the foam on one of the woofers at around 24 years but they kept on keeping on.

My Event PS8s have been with me since '00 or '01 or there about.

How funny!  I ran them for a long time on an Alesis RA100 till I picked up a used Hafler TA1600.  Like I said, I've been tempted over the years mostly by the Yamaha HS series but just couldn't justify the expense for what I do and know that I would have seller's remorse.
 
I'm sure that technology continues to improve and there certainly might be improvement on sound quality but one just needs to weigh the expense, time involved in learning them, and to what extent you rely on them for what one does.
 
My latest temptation was on Sweetwater's latest special on 48 months 0% interest. I was eyeing and researching the Genelec 8030 LSE Triple Play 5" package.  Genelec's & no interest - woohoo!  Proud of myself for resisting!
 

It's worth replacing the speaker cones periodically if you use them a lot (more often if you play loud). This because no matter what you do, they lose some stiffness over time. I wouldn't replace the entire monitor though, especially not if they're active.

And by "periodically" I mean like maybe once a year with really intensive use but perhaps once every 10 years with more casual use. I don't believe many speaker cones (that get used) last much longer than that without losing accuracy.

So maybe a better question would be based on the fact that the event 20/20s 1st gen were produced in the early 2000s would I see a significant Improvement by purchasing newer monitors? And if so, what would you recommend that would be close to the $500 price range and similar to the event 20/20s? Thanks

I've had a pair of Mackie HR824s for the better part of 20 years. 

I've got a pair of locally (Australian) made Transound Systems 2 way passive speakers with Kef drivers that I bought new in 1987.
About 30 years by my reckoning and they still have real clean highs with tight punchy lows. I'm currently driving them with a Marantz SR96 THX 5.1 surround Reciever. I use for home listening and comparison if needed.

I have pair of Event 20/20s that have been used for myTV speakers for around 20 years.
I thought they sucked in the studio.

I've been mixing on the same pair of 6.5" Tanoy's for 25 years.

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