You are right on the mark about removing shutters. They aren't sized right anyway. I am not sure about the metal awnings making your home more modern. Do you have an inspiration pic you can show us that illustrates what you are planning?

From this distance, the dark shutters read more as wide trim and I tend to think that the house will look bland without them. Some taller tree-form shrubs or small trees might counteract that. Place them off the corners on a diagonal and in front of the tall wall over at the far left. I don't find the modern style awnings (or for that matter the ones from the 50's) particularly attractive, and unless they would be functional (the front of the house faces south or west) I think they will end up looking a bit off, even if folks don't consciously know why. Overall, except for the entrance style, which is a recent style, I think your house looks timeless and doesn't need to change.

For starters, I don't believe this is a "ranch-style home." Many of the design elements (small square windows on the left, tall stone entry, roof details) point to something quite different. About the awning, do you mean something like this:

To me the metal awnings you show bring the house to a more rustic type elevation, especially with the stone you have on it. Is that Austin stone? Are you looking to go rustic? I love the landscaping in your insp pic.

Wow....really like @Dig Doug's Designs(8A) renderings. Talk about a completely different look!