I have kept tanks with little to no water change and with significant water changes.
My observations have been that it is entirely possible to keep tanks with minimal water changes, but over time the vitality of the system starts to go downhill. It can be hard to notice, but after about a year things just don't look as spunky as they did before, growth slows, etc.
For those who have been keeping tanks for a significant period of time without water change and think it is optimal, you might try doing a 10-25% water change and see if you notice a difference in your specimens appearance. If you don't, the water change apparently did not have any signficant affect, if you do notice the specimens perk up, then that is an indication that you are keeping your tank in less than optimal condition.
For the record, I currently do about a 5% water change a week on my tanks.
--- Ken