Actually I guess is the other way around! The more expert I get the more refactoring I do!
As @Lars Fosdal said, cryptic code, WTF was I thinking code, Code that could benefit from modern RTL code if there's no performance penalty.
For example: For lPair in SomeObjectList is slower than for i:= 0 to SomeobjectList.count-1. So I won't refactor it. Depending where the code is placed, I will use one form or the other.
Replacing TStringList (used as dictionary) with a TDictionary/TDictionaryObject makes a huge diference!