Well into it, although the stuff around Northam should be relatively new because of the Seimens maintenance depot there, however there has been a fair increase in the number of trains passing through that area too.
It was the relatively new trackside equipment at the down end of St Denys that had orange men crawling all over it at lunchtime yesterday. That was put in as part of the power strengthening for Desiros, so relatively new stuff.
It would be interesting to know the exact proportions of 'elderly' and 'relatively new' DC equipment, because as seen from a train window I'd suggest about 50% of sites alongside that part of the SWML (e.g. at St Denys, Winchester and Wallers Ash) are of similar age to the Desiro fleet...
Incidentally, and to save starting a new thread, has anyone noticed the growing stockpile of DC power equipment in the yard alongside P1 at Fareham? (Where the PARS temporary offices were a few years back.) That suggests some major power system renewals in the area are about to happen - maybe on the Botley or Netley routes? There'll still be brand new stuff being installed for many years despite eventual changes to AC being discussed...