I have a couple of Lycaons which I started with and now use as loaner guns. Putting a bit of care into the mechbox would probably be a better place to start, with metal bushings, a shim job, selective regreasing and a V2 bearing spring guide (and maybe even an new nozzle and tappet plate, Element brand is very decent for the price).
As far as I know the barrel should be interchangeable without any issues. You could change the barrel and put in a new hop-up rubber (I changed one of mine to a G&P rubber http://shop.ehobbyasia.com/upgrade-p...ng-rubber.html
) There is no reason to change the hop up chamber itself unless something breaks...which is unlikely with "normal" use.