Just about all my tanks get 50% water changes weekly. I never go over though. As long as you keep up on tank maintenance changing half the water doesn't really alter water chemistry enough to have any visible effects on the fish. If I go any larger, it is usually unnecessary and sometimes my fish appear stressed. If I go any longer (2-3 weeks) between water changes and change half the water, normally my fish color up nicely and sometimes even begin to spawn. I only do that though, when I want the the fish to spawn. If it happens on a regular basis it causes a few fatalities.
If I do too large of water changes at once, or too often my plants will oftentimes suffer and many of my systems get a big messed up. I think larger water changes are excessive and never really accomplish much more than a 50% water change. And sometimes at work, the fish become stressed and occasionally tanks will crash when I change too much water.
Old tank syndrome is something that no dedicated fish keeper should ever cause. I had it once, my pH dropped to 7.4 from 7.8 because I stopped gravel vacuuming a planted tank for a couple of months and only did 20% water changes biweekly. Preventing old tank syndrome does not require 100% water changes or daily 20% water changes. In almost all applications 50% weekly gets the job done.