I agree re age related issues. So many Morgans are several years old so are “old” cars. Rubber/ wiring etc deteriorates with age irrespective of mileage. On my 1993 I went through the fuel system when replacing the pump that was failing. It was a decision to do a fuller job due to the car age, flushing tank, replacing flexible pipes, extra fitter to protect the new pump, new engine-side filter, flush with cleaning additives in petrol for 1k miles.
On my current car, 2002Plus8, I have checked the front under wing wiring. Corroded bullet connectors replaced with spades and sealed. The insulation on the wires looked good (no brittleness or cracking). The area is a harsh one due to water off the tyres.
I am about to replace the front discs so other tidying up/jobs will be added. New fluid, possible braided pipes, general clean up. I use EBC Greenstuff pads and bought two sets last time I changed them in readiness (saved on postage!).