cold showers are good when working w/ insulation, keeps your pours closed while washing the itch out. I'm guessing it was a non-smoking inside studio, serious fire hazard there, but hey if the 70's studios are like i imagine it probably didn't matter.
But to kinda respond to topic, equipment matters as much as the room. To me, equally. Great equipment picking up crappy room acoustics, picks up just that, as i'm sure u guys know. Crappy equipment in a great room, does a it's best job at picking up greatness. I think one of the more overlooked aspects of equipment, is the the gear being recorded, not what it's recorded w/. like, tuning, intonation, playing technique.
The real concept here is diminishing returns, and weakest link.
Equipment does matter. If it didn't, all records would be made on the cheapest possible stuff. Whether the difference is worth the cost of entry is the question.
At my studio, we've had to compromise somewhat. we have a couple choice pieces of gear, and the necessary amount of working person stuff. The cash was put mostly into construction/treatment. And like i told the owner from day 1, we can always upgrade our equipment, but the rooms are gonna be there either way. It's much cheaper to rack up a new compressor, then to make a booth's ceiling independent after-the-fact.
Plus people can't afford $100+ an hour to have a high end signal chain on the shaker (overdubs excluded). I'd love to have a 10k signal chain for the toms, but, how to justify the cost is another nightmare. And let face it, and average local/regional band isn't gonna get anymore recognition if they went through that, or a mackie type pre-amp for the toms.
My philosophy is well rounded as i haven't gotten a niche. Some bands just sound better sounding 'bad'. Some bands don't.
Equipment matters, and it's about matching the right gear to the right material.