I think it helps to understand what an AFCI and a GFCI actually do to improve safety. In reality, if there are no faults, you do not need either one. They protect in less than ideal circumstances.
AFCI protect, primarily, the structure from burning down from a less than ideal connection (say, loose or corroded connection that creates sparks, thus a source of flame). That indirectly protects people, but it does it by protecting the structure.
A GFCI protects animate objects...you, your children, your pets, etc. by detecting a fault in the current path. When working properly, any electrical circuit is a closed path...all of the current that goes out on one wire (live or hot referenced to ground anyways) must return on the neutral lead. Any that leaks off (a fault) to ground might also end up going through you. Too much current through you can cause your heart to stop, fry things, etc...i.e., not good. A GFCI detects when too much current is leaking to places where it shouldn't. An AFCI detects when there are sparks in the circuit. In a perfect world, you don't need either. We don't live in a perfect world. How safe do y0u want to be? If the wiring insulation and conductor is intact and properly sized, it doesn't matter if it is new or old. Having a safety ground is yet a third way to provide safety, and older installations may not have one. They can still have the added safety from the addition of AFCI and/or GFCI without a ground (well at least on GFCI...I'm not positive on AFCI - it should work without a ground, but I'm not sure it does).