I have replaced cables, without replacing the cable housing, and have not had to adjust the brake or derailleur after it's initial adjustment. I have replaced cable housings, without replacing the cable, and have had to adjust the brake or derailleur after it's initial adjustment, but not by much. I use the best OEM and after market parts, including pre stretched cables, so I don't think that is a factor. My conclusion is, that cable stretch is a myth, at least to the extent that a perfect adjusted rear derailleur requires subsequent adjustment. And that cable housings compress and/or their ends seat in after installation.