Troutbert,
Interesting theory on the LWD.
I'm not so sure it's true that old growth results in more LWD than modern successional forests, though. There's certainly more woody debris in your typical 80-130 year old mixed forest than there is in the pockets of virgin, mostly Hemlock, forests I've been in. I don't know if that has to do with forest dynamics, or the fact that hardwoods simply decompose much slower than pine.
My back of the napkin theory has been as follows: In old growth forests, trees fall on a relatively infrequent basis. In younger forests, trees grow much more closely together, and as they get older, the "winners" continue on while the losers fall out. Those losers can sometimes be pretty large trees. Likewise, if the whole tree doesn't fall, but just branches, pines tend to have smallish branches that decompose quickly. Oaks, maples, etc. have very large branches that stick around a long time, get washed into jams, etc.
Now, you could have an argument about original streams being better based on acid rain, or remnant siltation that occurred during the logging boom. I'm not sure how the differences in forest mix play out. As was said, the original forests had a much higher % of pines in general, which would lead to more acidic soil. But how that compares to modern acid rain, I don't know, further keeping in mind that not all acids act the same. i.e. it's not simple pH, but also the TYPE of acid I'd think. And a pine overstory and the sponge-like soil underneath would certainly keep streams colder and flows steadier, but I think that our "best" 5% of brookie streams have good temps and flows anyway.
The last factor there has really been the death nail of the larger northern tier freestoners, which now get too warm. With the original forest they'd have maintained much better flows in the summer time, and much cooler temperatures. And those were the waters that contained the lion's share of the brookie population and biomass, on that I'd think we're in agreement.
Another question would revolve around the effect of beavers, which were much more common "originally". They certainly make some holding water but also can cause problems.
It's an interesting question. But my guess will say that our best 5% streams are better than their "original" average state. Simply because these things change over time, and they did even before the white man. Those 5% are at their best right now. It doesn't mean the overall picture is even close, even if you limit it to "small streams". i.e. more streams are worse than better. But by taking the top 5% you're probably selecting the ones that are better.