No! Cast iron radiator steam or hot water heat is the most efficient, quietest and most comfortable of heating systems. Converting to a "modern" method is expensive, will result in less comfort, and increase heating costs.
Pipe, Fin Tube & Fan Coil Covers
In older buildings, they improve appearance, but they also have important functional advantages. Pipe covers protect people from burns from hot pipes. Used in schools, they also protect pipes from kids, who enjoy poking holes in the insulation with their pencils. This is one of the most common phenomena in American education.