My

is that most stuff should be automagically configured by hotplug at startup. A new network card or sound card should be found by hotplug/modprobe at startup and a new kernel module should be loaded instead. If not, there are tools to reconfigure them.
One caveat is that if you've compiled a stock kernel and left out a bunch of the modules like I do with my old machine, then you may have to recompile to get support. But the stock kernel should be pretty good at recognizing new hardware and installing the appropriate module at boot time.