As
@Taylortwocities says, the old power supplies are likely switch mode like this
and this
where it says (20-60VA) means it needs a 20 watt load, these
old toroidal transformers will work OK with LED, so if round
likely OK, new transformers
will work, today they will likely say 0-50 as the one shown, but even then there is some old stock around.
The main problem moving to 230 volt, is the earth wire, the regulations say an earth wire must be taken to any lamp not suspended from the ceiling, it has done since 1966, many lamps don't need the earth, so it is how pedantic the person fitting them is, but 230 volt means you can use smart bulbs etc, so unless some special reason like some areas of a bathroom, then 230 volt is better.
You can get very good power to lumen bulbs using DC, and for some reason, the DC power supplies often called drivers, but really the DC versions are for boats and caravans, not really for standard house.
Often as long as one lamp is halogen the old power supply will work, so you can swap the odd bulb to LED, but normally not all unless really old.
The idea of 12 volt, was the filament was thicker so they lasted longer, quartz lamps should not be dimmed, they rely on being really hot to stop the tungsten being deposited on the quartz, so using an electronic transformer also resulted in voltage regulation so bulbs lasted even longer, but once we get rid of the tungsten lamps, there is no need for the extra low voltage.