Indeed components improve with techyear, and there will be 101 tech levels (1940-2040). Some components stop improving at some point though, for instance carburettors certainly have not improved much (if at all) between 2005 and 2010.

The revamp will bring another interesting mechanic regarding techyear: making "future tech" harder to control, causing reliability issues.
Examples:
1) You are in 1958 and have researched a +10 techlevel (up to 1968 where MFI unlocks) for fuel systems. This gives you access to MFI tech, but using it would be a huge technical challenge in price, manhours, and reliability. You'd need all your 10 tech points to unlock the tech... leaving you with an unreliable MFI built in 1958. -10 on the reliability scale.
2) You are in 1963 and have researched a +10 techlevel (up to 1973) for fuel systems. This gives you access to MFI tech and only "consumes" 5 of your 10 tech points. The other 5 go into making it reliable, and as it is 5 years in the future, you break even in reliability: 5 points to unlock, 5 points to get to 1968 standard. Effectively you thus have fully functional MFI 5 years earlier than your average competitor.
This system is very simple, but gives quite a bit of depth as you can choose if the loss in reliability really is worth the extra performance and marketing bonus.
