“Cosmetic” clean-up of old, unknown code. Which steps, which order? How invasive?

When I receive code I have not seen before to refactor it into some sane state, I normally fix "cosmetic" things (like converting StringTokenizers to String#split(), replacing pre-1.2 collections by newer collections, making fields final, converting C-style arrays to Java-style arrays, ...) while reading the source code I have to get familiar with.

Are there many people using this strategy (maybe it is some kind of "best practice" I don't know?) or is this considered too dangerous, and not touching old code if it is not absolutely necessary is generally prefered? Or is it more common to combine the "cosmetic cleanup" step with the more invasive "general refactoring" step?

What are the common "low-hanging fruits" when doing "cosmetic clean-up" (vs. refactoring with more invasive changes)?