I can vouch for the standard of checking, as a series I had published before I was editor had several errors found by Stewart and Diane's eagle eyes.
To give some more detail, the main things that needs to be changed on most drawings are line weights/styles and font sizes/styles.
It may not be obvious, but we get drawings supplied at, effectively, random sizes, so the lines and fonts have to be changed to suit the size at which the drawing will be published.
An exception was the set of charts for spring design. For obvious reasons these all had to work together, and the author was very careful to provide them with correct margin allowances etc. and provide them at an exact DPI so all we had to do was revise the colour balance and convert to CMYK to suit our printing process. We also had to make sure they were printed back to back and the double spreads were in the centre of the magazine.
It is also often a requirement to move the text around to suit the space available, try and avoid colour combinations that will confuse and sometimes to re-arrange grouped items.
It is unusual with electronically supplied drawings (typically as PDFs) for the actual parts to be 'redrawn' at all.
That said, sometimes our draughtsman has to work from simple sketches or full engineering drawings on paper. and does a very good job.
In contrast, a lot of people are now supplying 'rendered images'. Usually we can treat these as photographs, but this can mean detail is lost due to reduction in size, or worse pixelisation when they are blown up. The worst of all are wire-frame drawings and screen shots – wire frames always seem to look ragged and screen shots cannot be reproduced large enough for people to read the text.
Finally, bear in mind that although we look at the drawings and try to visualise the parts, we aren't making these thing and although we look for the obvious, it is virtually impossible for us to check every mating fit is right or look interference between parts, for example. The most likely errors to get past are where someone measures up a pre-made job and makes a measurement error, or where they incorporate changes in a design after building it. Naturally, we can't tell if this is the case just by looking at a drawing.
Neil