I know this is an old(er) thread, but pinging it because I have an LS-5 mkiii I'm thinking of having serviced.
I would like to update the preamp without "ruining" what makes ARC ARC.
I think the most obvious upgrade that wouldn't do any harm would be to upgrade the 6 output caps to Stealthcaps (or at least as many as will fit...the Stealthcaps might be larger than stock).
Other than that, I'm not sure what would be the next steps (if any). Not sure if this is a lifetime keeper preamp, but it's pretty good. I think I'd be safe (resale value wise) with the Stealthcaps, but other than that, it seems any other mod would hurt resale value.
Here's a schematic of the LS-5 mkiii