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Because the day the death cap decides to give up the ghost, the chassis of the amp, and OP's bass, get connected directly to the mains and that's never good. I've had shocks off old amps and survived, but its still unpleasant.Why the obsession with the "death cap"?
Look, man, that amp is how old? AND ITS STILL CHUGGING...
Do you like it? Those old PV amps are 99% of the time THE definition of reliable. Take it for a check up, maybe (MAYBE!) have the doctor change out the cap. Pick up a similarly powered newer amp as a backup since you're headed out on the road.
Unless there's a problem with the amp, roll with it. That thing might outlive amps that haven't even been made yet.
Just get another Peavey.
Takes a lick'n and keeps on tick'n.
I toured with a Mark VIII and the guitarist knocked it off the top of an 8x10... mid-song.
Never missed a beat... If I hadn't seen it happen, I never would have noticed.
I still have that head. Still works.