I'm going off memory here, but I believe the primary "money-making" upgrade was 1700 -> 2100 or so. Still, you gotta look at it from the long term. Without a gold mine, a province really doesn't make crap to begin with. I had a town with a gold mine making 11,000+ a turn by itself, compared to the 1800 my fully developed capitol was making. There are also several different bonuses that lower the cost of constructing buildings.
I don't agree that "all high-tier buildings" are terrible. Gatlings come from the highest tier artilerry range, Imperial/Shogunate Guard troops from the highest tier infatry buildings, many craft buildings have two routes to develop (better single province, or bonuses faction-wide), etc etc. If you want to upgrade a town completely, you'll probably need a max level police station to keep public order up vs. modernisation.
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